Clause 1, Article 2 of the Law on Social Insurance 2024 stipulates that people working under indefinite-term labor contracts are subject to compulsory social insurance. Therefore, to be able to withdraw social insurance at one time, they must stop participating in social insurance and have a request to receive it.
According to Clause 1, Article 70 of the Social Insurance Law 2024, employees can receive one-time social insurance if they fall into one of the following cases:
Having reached retirement age, the social insurance payment period is less than 15 years. In this situation, if they do not choose to receive one-time social insurance, employees can receive monthly allowances according to Article 23 of the Social Insurance Law 2024.
Go abroad to settle down.
For serious diseases such as cancer, paralysis, decompenced liver fibrosis, severe tuberculosis, AIDS.
Having a working capacity reduction of 81% or more or being a person with a particularly severe disability.
Having paid social insurance before the effective date of the Social Insurance Law 2024, but after 12 months, they are no longer eligible for compulsory social insurance, do not participate in voluntary social insurance and have not paid social insurance for 20 years.
Cases under points d, d, e, Clause 1, Article 2 of the Law on Social Insurance 2024 when a demobilized, discharged, or quit his/her job without continuing to participate in compulsory social insurance or voluntary social insurance and not eligible for pension.
Thus, withdrawing social insurance at one time with a person who signs an indefinite-term contract must satisfy one of the above conditions. Workers should consider carefully, because receiving one-time social insurance means there will be no more time to accumulate to calculate pensions later.
