Asset management company Dragon Capital Vietnam and Talentnet Corporation signed a strategic partnership agreement on May 18 under which the HR consultancy will market the former’s pension programme in the Vietnamese market.

Launched in 2021 after eight years of research and development with assistance from international organisations such as the World Bank, the programme provides a solution for increasing employees' incomes after retirement and a new channel for businesses to retain talent.

It offers employees a structure to regularly save from their monthly income for investing in voluntary pension funds.

Combining employer and employee contributions, the funds will help increase retirement incomes to 70-75 per cent of the average income of the last five years of one’s working life in addition to pension from the Viet Nam Social Security Fund.

Tieu Yen Trinh, CEO of Talentnet, said: “The vast majority of Vietnamese employees are young, with very radical thinking and a multi-dimensional view. They will care about the quality of life and quality of work, but not ignore individual investment opportunities and authentic experiences.

“Therefore, at Talentnet we are very pleased that the voluntary pension product is available in Viet Nam. With our advantage of understanding the labour market and comprehensive solutions, Talentnet will bring the products closest to the Vietnamese labour market and also gradually improve our human resources solutions to contribute to the sustainable development of enterprises.”

Dominic Scriven, chairman of the investment company, said: “Dragon Capital recognises that companies in Viet Nam have all paid great attention to the benefits of their employees and are very active in updating creative ways to retain talent.

“The voluntary pension fund is a popular social security solution in developed countries as well as in dynamic economies in Asia, and so we want Vietnamese people to also enjoy these benefits and welfare approaching regional and world standards.

“We believe that co-operation with Talentnet … would be a good opportunity for products to reach the market in the most effective way.” — VNS