The Vietnam Social Security (BHXH) is undergoing significant organizational changes following the issuance of Decision 391/QD-BTC by the Ministry of Finance on February 26, 2025. This decision outlines the functions, tasks, and structure of BHXH, emphasizing its focus on delivering social and health insurance benefits effectively.
Effective March 1, 2025, BHXH has been recognized as a specialized agency under the Ministry of Finance tasked with implementing social insurance, health insurance, and unemployment insurance policies. According to BHXH, this transition aims to improve service delivery, emphasizing the seamless processing of pensions and allowances for beneficiaries throughout Vietnam.
“In the first two working days of March 2025, BHXH has focused all resources and applied information technology to directly transfer monthly pensions and social insurance allowances through personal accounts to 2.7 million out of 3.4 million beneficiaries nationwide,” said the agency. This statement highlights the commitment to modernizing payment systems to benefit citizens effectively.
By March 3, 2025, BHXH reported impressively high disbursement rates. Over 98% of nearly 1.3 million beneficiaries receiving payments through their ATM accounts—around 1.27 million people—had been paid. This rapid deployment of funds signifies the agency's adherence to its priority of ensuring timely benefits for social insurance participants.
The agency has indicated plans to continue its payments for the remaining 25 provinces and cities on March 4, 2025, according to the schedule already communicated to beneficiaries. The decision to make payments on March 4 aligns with the recognition of delays caused by the weekend of March 1-2, which fell on Saturday and Sunday.
Focusing on specific locations, Hanoi’s Social Insurance (BHXH) has allocated over 4,000 billion VND to cover pensions and allowances for nearly 600,000 beneficiaries. Impressively, more than 99% of these beneficiaries are expected to receive their payments via personal accounts, ensuring security and efficiency.
For those who prefer cash disbursements, plans are set for payments to be made via post offices. Cash payments will commence post-March 4, with specific timeframes outlined for various districts. According to reports, Ho Chi Minh City will see cash payments at post office locations from March 7 to March 10, 2025, with schedules extending to March 25 for those receiving funds from central or district post office branches.
BHXH is taking proactive measures to coordinate with banking institutions to verify account details and manage the disbursement processes effectively. “Social insurance and banking agencies are continuing their collaboration to confirm beneficiary account details, ensuring timely access to pensions and assistance payments,” stated the agency.
The changes resulting from Decision 391 reflect Vietnam's commitment to enhancing the efficiency of its social welfare systems amid growing demands. With these updates, BHXH aims to alleviate concerns about service interruptions during the transition phase, ensuring beneficiaries enjoy their rights under the social security schemes uninterrupted.
These revisions come at a time when many people rely heavily on social insurance for basic needs, making the efficacy of BHXH’s operations more pivotal than ever. The proactive approach by BHXH demonstrates its dedication not only to organizational efficiency but also to the welfare of the Vietnamese populace.
Overall, the newly adopted structure encourages modernization and fosters trust among beneficiaries, which is indispensable for the success of Vietnam's social insurance framework. BHXH's emphasis on timely actions and utilization of technology embodies their commitment as they navigate these changes for the common good of the citizens.