On May 26, 2018, the Standing Committee of the National Assembly promulgated Resolution No.528/2018/UBTVQH14 on expenses for management of social insurance and unemployment insurance for the period of 2019 – 2021. This Resolution took effect since January 01, 2019.

Accordingly, Resolution No.528/2018/UBTVQH14 regulates the level of expenses for management of social insurance and unemployment insurance for the period of 2019 – 2021 as follows:

1. Expenditure for management of social insurance in 2019 shall be 2.15%, 2020 shall be 2.0% and 2021 shall be 1,85% of the social insurance revenues and expenditures (except for health insurance premiums paid to social insurance beneficiaries) shall be deducted from the profit earned from investment activities from the social insurance fund;
2. Expenditure for management of unemployment insurance in 2019 shall be 2.15%, 2020 shall be 2.0% and 2021 shall be 1,85% of the unemployment insurance revenues and expenditures (except for health insurance premiums paid to unemployment insurance beneficiaries) shall be deducted from the profit earned from investment activities from the unemployment insurance fund;
3. If the social insurance premiums and unemployment insurance premiums are not met in the year, the above managerial expenses shall be calculated on the actually collected amounts and actually paid;
4. Levels of salary payment for cadres, civil servants and employees working in the dependent units of the Vietnam Social Insurance, the employees working under the regime of labor contracts in the insurance organization the Ministry of Public Security and the Ministry of Ministry of Defence, the employees will be implemented the unemployment insurance policy of the labor, war invalids and social affairs with 1.8 times higher than the salary regime for cadres, civil servants and employees regulated by the State.

Thus, Resolution No.528/2018/UBTVQH14 has specified the expenses for management of social insurance and unemployment insurance for each period, which plays an important role in the management of the State, thereby contributing to the use of budget savings and efficiency.