As many people quit Vietnam’s social security system as were joining it
An increasing number of people have quit Vietnam’s social security system in recent years, raising concerns about the state budget having to take care for old people without pension.
More than 4.25 million people joined the system between 2016 and 2021. However, 4.06 million people quit during the period, withdrawing a total VND131.94 trillion (US$5.56 billion), according to the Ministry of Labor, Invalids and Social Affairs. The number of people quitting the system increased 11% per year on average during the five years, it said.