Vietnam Unemployment Insurance Policy in 2018

The 2018 unemployment insurance policy was a topic of great interest to many employees. 2018 marked significant changes in this policy, directly affecting the benefits of employees who lost their jobs. This article will analyze in detail the 2018 unemployment insurance policy, helping you better understand your rights and responsibilities. See more Vietnam’s monetary policy in 2018.

Eligibility for Unemployment Insurance in 2018

To be eligible for unemployment insurance in 2018, employees needed to meet specific conditions. Firstly, they must have participated in unemployment insurance as prescribed. The minimum contribution period was 12 months within 24 months preceding job loss. Secondly, the job loss must not be due to the employee’s fault, such as due to business bankruptcy, downsizing, or contract expiration. Finally, the employee must register for job seeking at the local employment service center.

Unemployment Insurance Benefit Levels in 2018

The unemployment insurance benefit level in 2018 was calculated based on the employee’s unemployment insurance contribution salary. Specifically, the monthly benefit was equal to 60% of the average monthly salary of the six consecutive months preceding job loss. However, this benefit could not be lower than the regional minimum wage stipulated by the Government.

Procedures for Receiving Unemployment Insurance in 2018

The procedures for receiving unemployment insurance benefits in 2018 were quite simple. Employees needed to prepare a dossier including: social insurance book, termination decision, application for unemployment insurance benefits, and personal identification documents. Then, they submitted the dossier to the local employment service center. The center would review the application and announce the result within 15 working days. You can learn more about Unemployment Insurance Policy and Procedures.

Unemployment Insurance Benefit Duration

The duration of unemployment insurance benefits depended on the employee’s contribution period. Specifically, for every 12 months of contributions, the employee was entitled to one month of unemployment benefits, up to a maximum of 12 months.

Unemployment insurance benefit duration in 2018

Comparison of 2018 Unemployment Insurance Policy with Previous Years

The 2018 unemployment insurance policy had some differences compared to previous years. For example, the unemployment insurance benefit level in 2018 was adjusted upwards compared to 2017. In addition, the procedures for receiving unemployment insurance benefits were also simplified. See more information about Unemployment policy in Vietnam. Learn more about the latest social insurance policy in 2018.

Conclusion

The 2018 unemployment insurance policy provided practical benefits for employees who lost their jobs. Understanding this policy will help you be more proactive in protecting your rights. Refer to Policies effective from January 1, 2019 to update the latest changes.

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