Proposal to subsidize 500,000 VND per month for people aged 75 and over

The Ministry of Labor, War Invalids and Social Affairs is drafting a decree detailing and guiding the implementation of a number of articles of the Law on Social Insurance (LSI) on social retirement benefits.

According to the draft, the social pension policy applies to Vietnamese citizens aged 75 and over who do not have a pension or monthly social insurance benefit.

For people in poor and near-poor households, the age of application is earlier, from 70 to under 75 years old.

Elderly people who want to receive this allowance must make a written request and have it confirmed by the People's Committee of the commune, ward or town where they reside.

If the social pension beneficiary is also in the group receiving monthly benefits, he/she will receive a higher amount. When the beneficiary passes away, he/she will receive a funeral allowance of 10 million VND.

If the elderly person is 75 years old before July 1, they will receive social pension benefits from the above time, if not, they will receive them from the age of 75. The time of receiving benefits is similar to that of the poor and near-poor people who are 70 years old.

The proposed monthly benefit level is 500,000 VND, equal to the current social assistance standard to synchronize general policies and be suitable for socio-economic conditions, and balance the state budget.

With this benefit level, the total annual implementation cost is more than VND9,040 billion; the total cost for the entire period of 2025 - 2030 is VND40,500 billion. The drafting agency estimates that 1.5 million people aged 75 - 80 are eligible for social pension benefits.