This paper reviews the current social protection system in Vietnam with a special focus on access of the poor and vulnerable people. It shows that the system has been expanded to cover more poor and vulnerable people. However, at the same time, delivery of services and financing are still unequal between groups, in which advantaged groups have better utilization of services than disadvantaged groups. To reach a social protection floor, especially a universal health insurance coverage by 2015, the paper argues that the Government of Vietnam will face a number of challenges, in which financing is the most critical. Also, to expand retirements and social assistance effectively, focusing on the poor and vulnerable groups will ensure a sustainable poverty reduction.