Solutions to limit lump-sum social insurance withdrawal in Vietnam

This study proposed solutions to limit lump-sum social insurance withdrawal in Vietnam. Lump-sum social insurance withdrawal brings short-term benefits to withdrawers, but it poses many potential long-term risks, such as losing the opportunity to receive pensions, not being protected by health insurance, and lacking financial stability in old age. This study pointed out the main causes leading to lump-sum social insurance withdrawal, including employees' inadequate awareness of the benefits of long-term social insurance participation, personal economic pressure, and ineffectiveness of education and communication about social insurance. Based on the study's findings, some solutions were proposed, such as improving communication and direct consultation for employees, increasing financial support and preferential policies, and improving the quality of social insurance services. This study is expected to help employees better understand the benefits of long-term social insurance, reduce the lump-sum social insurance withdrawal, protect the rights of employees, and ensure the sustainability of Vietnam's social security system.