ANNOUNCEMENT

ADJUSTING STATUTORY PAY RATE

Pursuant to the Law on Social Insurance; Health Insurance and Decree No.105/2014/ND-CP dated November 15, 2014 of the Government on guidelines for the Law on Health Insurance;

- Pursuant to Decree No.72/2018/ND-CP dated May 15, 2018 of the Government which stipulates that the statutory pay rate since July 01, 2018 is VND 1,390,000.

Ho Chi Minh City Social Security hereby announces that the statutory pay rate as the basis for paying premiums of Social Insurance, Health Insurance and Unemployment Insurance (hereinafter referred to as insurance premiums) will be adjusted since July 01, 2018 as follows:

1. According to the salary scale and payroll prescribed by the State, the monthly salary of public officials, public employees and workers as the basis for them to pay insurance premiums equals total pay coefficient multiplied by statutory pay rate.

2. For workers covered by Social Insurance, Health Insurance, Occupational Accident and Occupational Disease Insurance, if their salary as the basis for paying insurance premiums is more than VND 27,800,000, the maximum premiums payable will be capped at VND 27,800,000 (equal to 20 times the statutory pay rate).

3. Health insurance premium paid by the state budget will be calculated based on new statutory pay rate.

4. People who receive a State’s health insurance premium subsidy such as students and near-poor households and people who participate in household-based health insurance must pay their health insurance premium based on new statutory pay rate.

For the case in which the Health Insurance Card is valid from July 01, 2018 but the premium was paid before July 01, 2018, such premium will be calculated based on old statutory pay rate (VND 1,300,000).

5. The highest monthly salary chosen by voluntary participants of Health Insurance is VND 27,800,000 (equal to 20 times the statutory pay rate) at the date of premium payment.

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