Vietnam is in the period of golden population structure, but the population aging rate is also very fast. Therefore, to cope with population aging, two important issues are raised, namely job creation and social security system for the elderly (the elderly).
Many challenges
On April 14, at the seminar “Promoting the advantage of golden population structure and adapting to population aging” – Deputy Minister of Labor, Invalids and Social Affairs Le Van Thanh informed, in the labor market, the proportion of the population with jobs making our country always at a high level and the unemployment rate maintained at a low level. However, Vietnam is in the period of golden population structure at the same time the population aging trend is happening very quickly.
The Ministry of Labor, Invalids and Social Affairs develops a Project to promote the advantages of golden population structure and adaptation to population aging in the period of 2021 – 2030.
According to forecasts, the golden population period of Vietnam lasts about 33 years, will end in 2039, which means only 19 years. Along with that, the transition time from population aging to an aging population is about 26 years – this is a very short transition period compared to countries with high production levels, bringing Vietnam into the group of countries with the fastest aging population in the world.
In particular, the trend of rapid population aging in the context of low per capita income in Vietnam has created the risk of falling into the “not getting rich old” situation if we do not take advantage of Golden Population Association and effective adaptation measures to population aging.
There are two problems posed for Vietnam in the coming time. First, the time for taking advantage of the golden population structure is not much while the quality of human resources is limited and the quality of employment is not high. Up to now, the rate of trained workers with diplomas and certificates has only reached 24.5%. Second, the population aging is fast while the country’s economic resources and social security system are still limited.
Currently, only 33.2% of working age employees participate in social insurance (social insurance); about 45.5% of the elderly are entitled to a monthly pension or allowance. The system of care for the elderly is incomplete in both quantity and quality, increasing the burden of social security for the State budget and poses many challenges.
Job creation for retirees
To solve the above two issues, the Ministry of Labor, Invalids and Social Affairs has developed a draft project to promote the advantages of a golden population structure and adapt to population aging in Vietnam in the period of 2021 – 2030. The project sets out goals, Rate of trained labor will reach 70% in 2025 and 75% in 2030; The rate of trained workers with certificates will reach 28-30% in 2025 and 35% – 40% by 2030. At the same time, increase the support of the State to ensure income for workers after retirement or at the end of working age: The person who is entitled to a pension from social insurance and social pension benefits is 55% in 2025 and 60% in 2030. Reduce the age eligible for social allowance for the elderly to 75 years old by 2025 and 65 years old for some ethnic groups. At the same time, creating suitable jobs and adequate income for the elderly who have work demands.
Agreeing with the development of a project by the Ministry of Labor, Invalids and Social Affairs, representatives of ministries, sectors and labor experts said that Vietnam has adapted to the aging population by raising the retirement age, meeting the risk of a shortage of TB. moving. To take advantage of the golden population, many working-age workers are willing to work, bringing the unemployment rate lower than other countries. “Currently, labor productivity is still low, which is the highlight. We need to deal with it by improving productivity, the quality of the labor force and effectively using that human resource ”- Former Deputy Minister of Labor, Invalids and Social Affairs, Doan Mau Diep suggested. Meanwhile, Ms. Nguyen Nguyet Nga – World Bank expert proposed a solution to increase labor productivity not only by training but also by shifting labor from low to high productivity areas. .
Labor experts also encourage young employees to participate in social insurance to later leave the regime with a living pension. Young workers have high and stable incomes, right now save money, save money to use for their life in old age.
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