The Factors Affecting the Decision to Participate in Voluntary Social Insurance of Vietnamese Employees: The Case of Tra Vinh Province

Abstract

The purpose of this study is to find out the factors affecting the decision on participation in voluntary social insurance of non-state sector employees. To propose such recommendations to the Vietnam Government and Social Insurance of Vietnam, to develop a voluntary insurance policy, improve social security for non-state workers in Vietnam. The analysis of factors affecting the decision to participate in voluntary social insurance of Vietnamese employees in the case of Tra Vinh province by using the method of primary data collection of 300 employees in Tra Vinh province; using multivariate regression methods. The study has found 9 factors such as: social security awareness, the attitude of the employees, knowledge of voluntary social insurance of the employees, the social influence of voluntary social insurance, income of employees, social media, voluntary social insurance policy, Adult’s health awareness in old age and moral responsibility affecting the decision to participate in voluntary social insurance of the employees in Tra Vinh province. Then, the authors have proposed implicational policies such as enhancing communication work for employees, building flexible social insurance policies, diversifying types of payments, Focusing on awareness education about Vietnam social security,…contributing to ensuring social security for Vietnamese employees when they reach the retirement age.