That encourages workers to preserve their contribution periods to qualify for pensions rather than opting for a one-time social insurance pay-out.
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For workers, who have ceased their participation in social insurance and choose to maintain their contribution periods for future benefits, there are opportunities to access enhanced entitlements, including:
- Continued participation allows the workers to receive higher benefits across various schemes, as these are calculated based on the duration of contributions (such as for sickness, workplace accidents and occupational diseases).
- Conditions for qualifying for a pension are more accessible.
- While receiving a pension, the workers will also have health insurance contributions covered by the social insurance fund.
- Participants, who do not meet pension eligibility criteria and have yet to reach the age for social assistance pensions, will receive monthly allowances.
- During the period of receiving monthly allowances, the State budget will cover the workers’ health insurance contributions.
Additionally, workers, who have made social insurance contributions but have lost their jobs, will have access to credit support policies.
VSS-Chi
