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Vietnam Social Security collects over US$8.66 billion in 8 months
Ngoc Thuy 09:48, 2018/09/01
Spending on social, health and unemployment benefits hit a total of VND202 trillion (US$8.65 billion) in the January - August period, or 68.61% of the year`s target.
The Vietnam Social Security (VSS) in August collected VND28.93 trillion (US$1.24 billion), leading to a total of VND202.91 trillion (US$8.66 billion) in the first eight months this year, or 61.5 of the year's target, reported VietnamFinance. 
 
Illustrative photo.
Illustrative photo.
On breaking down, VND138.4 trillion (US$5.93 billion) was social insurance revenue while VND9.88 trillion (US$423.52 million) and VND54.63 trillion (US$2.34 billion) were from unemployment and health insurance, respectively, stated VSS's representative at a meeting on August 29.

During the January - August period, around 13.97 million people took part in compulsory social insurance, 241,000 in voluntary social insurance, 11.93 million in unemployment insurance and 81.76 million in health insurance participants, or 87.25 percent of the population. 

In the first eight months, VSS handled 78,092 cases entitled to pensions and monthly social insurance benefits, 539,527 cases of lump-sum allowances, 6.36 million people enjoying sickness, pregnancy and health rehabilitation benefits. 

During this period, 116 million turns of people underwent health check-ups and treatment using health insurance, of which around 15.13 million were recorded in August. 

Total spending on social, health and unemployment benefits hit VND28 trillion (US$1.2 billion) in August, accumulating a total of VND202 trillion (US$8.65 billion) in the January - August period, or 68.61% of the year's target. 

Thanks to VSS's effort in inspecting firms with delayed insurance payment, the amount was reported at over VND6.7 trillion (US$287.05 million) in the first eight months, down a whopping 30% year-on-year, stated Dao Viet Anh, VSS's general director. 
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