Interest rate on late payment and arrears payment of social insurance and unemployment insurance in 2022

Ho Chi Minh City Social Insurance Agency issued Notice 230/TB-BHXH dated January 17, 2022 on the adjustment of interest rates for calculating the late payment and arrears interest for social insurance, health insurance and unemployment insurance premiums. 

Specifically, based on the Prime Minister's Decision 60/2015/QD-TTg dated November 27, 2015, if the payment of health insurance premiums is delayed for 30 days or more, then the interest collected is equal to 02 times of the market interest rate. The market interest rate is the interbank market with a term of 9 months announced by the State Bank of Vietnam on the Website of the State Bank of Vietnam in the preceding year. The interest is calculated on the amount and time of the late payment.

Pursuant to Notice 89/TB-BHXH dated January 13, 2021 of Vietnam Social Security Agency, the investment interest rate of the Social Insurance Fund in 2021 is 4.39%/year, the interest rate on the interbank market for a term of 9 months announced by the State Bank of Vietnam. as of December 31, 2021 is 3.26%/year.

The Social Security Agency of HCM City announces to employers in the city the applicable interest rates from January 1, 2022 as follows: 

- The interest rate for late payment and arrears payment of social insurance and unemployment insurance premiums is 0.7316%/month .

- Interest rate for late payment of health insurance premium is 0.5434%/month. See details at Notice 230/TB-BHXH dated January 17, 2022.
 

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