Factors affecting the voluntary social insurance participation in My Tu district, Soc Trang province

Abstract:

This study investigates the determinants influencing residents’ intentions to participate in voluntary social insurance (VSI) of 200 individuals in My Tu district, Soc Trang province, Vietnam. The research applies Exploratory Factor Analysis (EFA) and multiple linear regression to identify the key drivers of VSI participation. Seven significant factors were revealed: attitude, behavioural control, propaganda, family influence, risk perception, participation procedures, and ethical responsibility. Among them, procedural simplicity and family influence showed the strongest effects. The findings highlight the importance of improving information dissemination, simplifying administrative processes, and enhancing individual responsibility in expanding VSI coverage. The study provides empirical evidence supporting the promotion of VSI as an effective mechanism to enhance social security for informal workers and vulnerable groups, with implications for policymaking in Vietnam and other developing countries.