Both public and private sector employees are required to participate, though small businesses often ignore it.
A small fixed percentage of an employee's salary is paid to the SIA every month.
[4] A state pension scheme as part of the social insurance system has existed since 1962 (North Vietnam), but up to 1995 only covered state-owned enterprise workers.
[6] Elderly people without pensions who live in extreme poverty can get assistance from other government programs, though these are generally not well-funded.
[6] People can also choose to contribute additional funds to life insurance schemes, and receive either lump sum or pension payments when retiring, though this is uncommon among low-income workers.