Any Older Employee, who is not of pensionable age, is the Employee who does not satisfy the requirements on the period for which SI contributions were paid as per regulatory law[1]. Therefore, the Employer is still responsible for contributing compulsory insurances for the said Employee as follows:
- For the SI[2], any Employee working under LCs with a term of full 01 month and above is subject to participation in compulsory SI;
- For the HI[3], any Employee working under LCs with a term of full 03 months and above is subject to participation in compulsory HI; and
- For the UI[4], any Employee working under a LC with a term of full 03 months and above is subject to participation in UI.
Insurance contributions for the Employer and the Employee in 2021 are specifically calculated as follows[5]:
| No | Types of insurance | Employers | Employees |
| 1 | SI | 17% | 8% |
| Labour accident, occupational disease insurance | 0,5% | 0% | |
| 2 | HI | 3% | 1,5% |
| 3 | UI | 1% | 1% |
| Total | 21,5% | 10,5% |
Thus, if the Older Employee is not eligible for pension benefits and is performing LC, the participation in SI, HI and UI will still be carried out like other Employees.
[2] Article 2.1.a and 2.1.b of Law on SI
[1] Article 169.1 of the Labour Code
[3] Article 12.1.1 of Law on HI
[4] Article 43.1 of Law on Employment
[5] Decision 595/QD-BHXH dated 14 April /2017
