Pursuant to the provisions of the Law on Social Insurance 2014 and Resolution 93/2015 of the National Assembly, voluntary social insurance participants who have a request are entitled to receive a one-time social insurance payment if they fall into one of the following cases:

Reaching retirement age as prescribed but not having paid social insurance for 20 years or not having paid social insurance for 15 years and not continuing to participate in voluntary social insurance;

After 1 year of leaving work without having paid social insurance for 20 years and not continuing to pay social insurance;

Go abroad to settle;

People who are suffering from one of the life-threatening diseases such as cancer, paralysis, cirrhosis, leprosy, severe tuberculosis, HIV infection that has progressed to AIDS and other diseases as prescribed by the Ministry of Health.

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Workers participating in voluntary social insurance should not withdraw their social insurance at one time to aim for a pension when they retire. Illustration photo: Thach Thao

The 2014 Social Insurance Law stipulates that the one-time social insurance benefit is calculated based on the number of years of social insurance contributions, each year is calculated as follows:

Equal to 1.5 months of the average monthly income for social insurance contributions for years before 2014; equal to 2 months of the average monthly income for social insurance contributions for years from 2014 onwards;

In case the period of social insurance payment is less than 1 year, the social insurance benefit is equal to the amount paid, the maximum level is equal to 2 months of the average monthly income of social insurance payment.

The one-time social insurance benefit level of the subjects supported by the State according to regulations includes the amount of money the State supports for voluntary social insurance payment.

The time to calculate one-time social insurance benefits is the time stated in the decision of the social insurance agency.

A labor expert said that workers in difficult situations often choose to withdraw their social insurance in one lump sum. Those who participate in voluntary social insurance often have more difficulties because they do not have a stable job. When they encounter difficulties, they immediately think of withdrawing their social insurance in one lump sum.

However, if the State has a policy of credit support for employees who voluntarily pay social insurance, it will limit the situation of withdrawing social insurance in one lump sum.

“According to the Social Insurance Law 2024, from July 1, 2020, people who have paid social insurance for 15 years and reach retirement age will receive a pension. Therefore, freelance workers who have participated in voluntary social insurance for 5-10 years and then withdraw their social insurance at once will suffer in many ways.

The State can calculate a credit support policy so that voluntary social insurance participants can stay in the system, and when they retire, they can receive pensions and health insurance care," said the labor expert.