Every day, millions of individual business households are quietly operating a large part of the Vietnamese economy. They are not large enterprises, do not have human resources, accounting, ... When old age comes, those who were "owners" do not have a minimum pension to rely on.
From July 1, according to the amended Law on Social Insurance (SI) 2024, registered business owners will officially become subjects participating in compulsory social insurance.
Instead of standing on the sidelines, small businesses will enter a circle of prosperity, opening up expectations for a more stable and sustainable future for freelance workers.
Ms. Doan Thi Nga - Owner of a fruit shop on Trung Kinh Street (Cau Giay, Hanoi) shared: "Recently, I have researched that paying social insurance is necessary. First, for freelance workers like me, when I get old, I will have a pension. Second, it is also a guarantee for my health".
Not only stopping at having a need or the two words "voluntary", but compulsory social insurance payment will bring many benefits such as pension, maternity and death benefits. Although I have to deduct a portion of my monthly income, it is a long-term reassurance.
A former office worker and social insurance officer at his old company, Mr. Nguyen Tuan Nam chose a new direction for himself when he decided to open a small food store. As a new group of subjects who have to pay compulsory social insurance, Mr. Nam said: "People should understand the true meaning of social insurance, not consider it as an amount to be paid. Don't think it's necessary, but consider it as something I call "I give out as a gift".
According to Mr. Nam, in essence, it is still his money, not going anywhere. Business people like me do not expect too much in their pensions, but there is still more, especially the fact that no one knows what tomorrow will be like. Choosing to pay social insurance is a backup option, if there is, it is still better".
However, according to the reporter's records, most long-time businesses are not very interested in the amount considered "saving". Ms. Pham Thu Ha - Owner of a sports fashion store (Cau Giay, Hanoi) frankly shared: Although the lowest payment level is 585,000 VND/month, it is quite reasonable, but with the condition of maintaining that payment level for a long time. If I pay at the same level every year, I can't pay."
Regarding the compulsory social insurance contribution rate for individual business household owners, as stipulated in Points a and b, Clause 4, Article 33, the rate of compulsory social insurance contribution is 3% to the sickness and maternity fund, 22% to the pension and death fund.
Regarding the basis for payment, according to Point d, Clause 1, Article 31 of the Social Insurance Law 2024, business owners are allowed to choose salary as the basis for compulsory social insurance payment, but the lowest is the reference level and the highest is 20 times the reference level at the time of payment.
Therefore, the monthly contribution rate for business owners participating in social insurance is 25% of their salary. Homeowners can choose to pay monthly, 3-month or 6-month depending on their needs.
With less than 1 month left, the revised Law on Social Insurance 2024 will officially come into effect. It is necessary to review the overall contribution level and the compulsory social insurance payment process to ensure the rights and reduce the burden on participants.
