Social insurance contribution is the guarantee of safety for oneself and responsibility for others in case of illness, accident, which may lead to the reduce or lost in income. So, if the working age is over, can you participate in compulsory social insurance? By this article of Hong Bang Law will help you answer the above question.
1. Regulation of the age to participate in social insurance
Social insurance is a guarantee to replace or partially compensate an employee’s income when his/her income is reduced or lost due to illness, maternity, work accident, occupational disease, over working age or death, on the basis of payment to the social insurance fund (Clause 1, Article 3 Law on Social Insurance 2014).
Compulsory social insurance is a type of social insurance organized by the State that employees and employers must participate in (Clause 2, Article 3 Law on Social Insurance 2014).
Currently, according to the Law on Social Insurance 2014, it does not stipulate the age to participate in social insurance, but only applies to those who are employees and employers. Voluntary social insurance contributions are prescribed from the minimum age of 15 years and above and there is no limit on the maximum age for which social insurance premiums can be paid.
2. Social insurance contributions for the elderly
According to regulations on the benefits of elderly employees, elderly employees who are eligible for the period of payment of social insurance premiums are not eligible to participate in compulsory social insurance, compulsory health insurance and social insurance premiums. unemployment insurance. Therefore, elderly employees who have met the conditions for paying social insurance premiums for more than 20 years are no longer required to pay compulsory social insurance premiums.
However, if an elderly employee has reached the retirement age and wants to enjoy a pension but has paid social insurance premiums for less than 20 years, he or she may continue to participate in voluntary social insurance for a full 20 years to receive a salary. retire in accordance with the law.
3. Some questions about social insurance for the elderly
3.1. Social insurance for the elderly
- Do elderly workers have to pay social insurance?
Elderly employees are not required to pay social insurance premiums if they have paid social insurance premiums for full 20 years.
- Do you have to pay social insurance for elderly employees?
Employers are not required to pay social insurance premiums for elderly employees when they have had full 20 years of paying social insurance premiums. Therefore, in addition to paying salary according to the job, the employer is also responsible for paying an additional amount equivalent to the level of compulsory social insurance payment as prescribed.
3.2. Can people at the age of 55 (female) or 60 (male) participate in social insurance?
People at the age of 55 – 60 can participate in social insurance as usual. Because the law does not stipulate the maximum age to pay social insurance premiums, it only stipulates that the minimum age to participate in voluntary social insurance contributions is from 15 years old.
Therefore, individuals of this age can participate in social insurance contributions.
3.3. Do employees over 60 years have to pay social insurance?
Employees who have paid social insurance premiums for 20 years who are older than 60 years old are no longer required to pay compulsory social insurance premiums.
However, the elderly employer still has to pay the employee an amount equivalent to the payment of social insurance premiums for the employee.
3.4. At which age are people stopped from joining social insurance?
Currently, according to the current legal provisions of the Law on Social Insurance 2014, there is no regulation on this issue.
Clause 4, Article 3 Law on social insurance 2014 stipulates as follows:
“4. Voluntary social insurance participants are Vietnamese citizens who are full 15 years of age or older and are not the subjects specified in Clause 1 of this Article.”
Thus, at any age, people can join voluntary social insurance premiums if they are 15 years old or older.
Above is our advice on this matter. If you need more detailed advice as well as how to access this service, please contact Lawyer – Mr. Nguyen Duc Trong directly via hotline: 0912.35.65.75, 0912.35.53.53 or call Free Consultancy Center 1900.6575 or send a service request via email: info@hongbanglawfirm.com
We wish you and your family good health, peace and success!
Best regards!
Hong Bang Law Firm.
