Social security insurance is a safety net that mitigates risks for individuals in certain situations. Let’s delve into the process of withdrawing social security benefits as a lump sum in 2022.
1 Procedure for Receiving Lump-Sum Social Security Benefits
Procedure for Receiving Lump-Sum Social Security Benefits
Individuals should gather and submit the necessary documents as per the regulations to their local social security office.
The social security agency will receive and process the request in accordance with the standard procedures.
Individuals will be informed of the decision on their request, which includes the approval of the lump-sum benefit, a record of their social security contributions, and details of the cash benefit they are entitled to receive.
3 Simple Steps to Receive Your Lump-Sum Benefits
2 How to Complete the Procedure for Receiving Lump-Sum Benefits
A Guide to Completing the Procedure Efficiently
Individuals can choose from the following options to submit their documents:
- Electronic Submission: Register to obtain a verification code and submit your documents online through the official social security portal or an I-VAN organization (if registered for I-VAN services). If you are unable to convert your paper documents to electronic format, send the complete set of physical documents via the public postal service to the social security agency.
- Postal Service: Send your documents through the public postal service.
- In-Person Submission: Visit the social security agency and submit your documents directly.
Individuals will receive their benefits in the following ways:
- Documents: Delivered through the registered method, whether in person, via postal service, or electronically.
- Cash Benefit: Received in person at the social security agency, through the public postal service, or deposited into a personal bank account.
- Authorized Representative: In case you wish to authorize someone else to receive the benefit on your behalf, follow the “Authorization to Receive Social Security Benefits” procedure or provide a legally valid Power of Attorney.
2 Easy Steps to Complete the Procedure
3 Required Documents for Receiving Lump-Sum Benefits
Documents You Need to Prepare
(Unless specifically stated, certified copies of the following documents are acceptable.)
Case for receiving lump-sum benefits:
a) Original Social Security Book or Card.
b) Completed and signed Request Form (as per the standard format).
c) For individuals emigrating to another country, additional documents are required: a certified copy of the confirmation of renunciation of citizenship, or a certified translation of a foreign passport, visa for permanent residence, or documents confirming the acquisition of foreign citizenship/residence permit.
d) In the case of a critical or life-threatening illness, provide medical records or a decision from the Health Assessment Council indicating a significant decrease in working capacity.
e) For those who served in the military before 2007 in areas with area allowances, submit the original Personal Declaration of Service Time and Area with Allowance (as per the standard form).
Specific Case for Receiving Benefits
For foreign employees working in Vietnam and eligible for lump-sum benefits: Submit documents as mentioned in points b, d, and e.
Time Frame for Processing Requests
Number of sets of documents: 01 set.
Processing time: A maximum of 05 working days from the date the social security agency receives the complete and correct set of documents.
We hope this article has provided you with a clear understanding of the procedure for withdrawing social security benefits as a lump sum in 2022. For more informative articles, stay tuned with us.
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