Lump-Sum Social Insurance Withdrawal in Vietnam: Study for Attitude Aspect

Pensions are an important part of a country's social security system to ensure income security for workers in their old age and social security. Recent trends under the impact of economic fluctuations, especially the impact of the covid pandemic with different dimensions, demographic factors, and personal conditions, employees participating in social insurance want to withdraw their retirement benefits sooner than expected as a lump sum benefit. Countries' Governments emphasize the compulsion of basic pension programs to ensure the security of employees' income after retirement while discouraging withdrawal early from their retirement account. However, with changes in the socio-economic situation and legal regulations, more and more people intend to withdraw their lump-sum social insurance contributions and perform other financial acts. This study examined the participants' attitudes towards the tendency to withdraw lump-sum social insurance contributions of employees in the current context and policy implications.