Nearly 12.4 million people joined compulsory social insurance, a year-on-year increase of 5.4%; more than 10.5 million participated in unemployment insurance, an increase of 6.5% compared to 2015, while the number of voluntary insurance participants was over 191,000.
Insurance premium revenue also rose, estimated to reach nearly 115.9 trillion VND (over US$5.1 billion), a rise of 18.4% year on year, equivalent to 49.3% of the plan set by the Government.
In 2015, the sector collected more than VND216 trillion (US$9.72 billion) from social, health and unemployment insurance in 2015, up 6.2% compared with the Prime Minister’s target and 9.5% against the previous year’s figure.
This year, the VSI has set the target of collecting VND235 trillion (US$10.6 billion) from social, health and unemployment insurance, and to spend nearly VND237 trillion (US$10.7 billion) on the work.
Over the past time, the VSI has joined hands with ministries and agencies in issuing laws, including Social Insurance Law and Health Insurance Law, which have been amended to meet people’s needs.
Alongside the reforms, the agency has also performed outstandingly in expanding and managing insurance participants, controlling collections and expenditures, and reducing debts.
