Receive monthly benefits when reaching retirement age but not having enough years of social insurance contributions

According to Mr. Nguyen Duy Cuong, Deputy Director of the Social Insurance Department (Ministry of Labor, War Invalids and Social Affairs), the addition of a monthly subsidy level aims to reduce one-time withdrawal of social insurance and increase the connection between the social pension subsidy level and basic social insurance.

Specifically, the revised Law on Social Insurance stipulates that Vietnamese citizens who are of retirement age, but do not have enough time to pay social insurance to receive a pension and are not eligible for social retirement benefits, if they do not receive a one-time social insurance payment and do not reserve it, but have a request, will receive a monthly allowance from their own contributions.

When asked about how this month's subsidy level is determined, because the revised Law on Social Insurance does not stipulate a minimum period of participation in social insurance to receive monthly subsidy, Mr. Nguyen Duy Cuong said:

Regarding the duration and level of monthly benefits: The Social Insurance Law does not stipulate a minimum level of participation in social insurance to receive monthly benefits, so it is understood that participating in social insurance will receive monthly benefits. The monthly benefit level will be determined based on the employee's social insurance contribution period. The lowest monthly benefit level is equal to the social pension benefit level.

“We are currently developing a guiding decree, which does not stipulate a minimum payment period to receive monthly benefits and will have a formula to specifically calculate the benefit level according to the payment level,” informed Mr. Nguyen Duy Cuong.

The 2024 Social Insurance Law also stipulates that employees who have paid social insurance before July 1, 2025, after 12 months of not participating in compulsory social insurance and voluntary social insurance, and have paid social insurance for less than 20 years, can withdraw social insurance at once.

Employees participating in social insurance after July 1, 2025 are not entitled to receive a one-time social insurance payment, except in the following cases: reaching retirement age but not having paid social insurance for 15 years; going abroad to settle down; suffering from one of the following diseases: cancer, paralysis, decompensated cirrhosis, severe tuberculosis, AIDS; having a working capacity reduction of 81% or more; people with extremely severe disabilities.

Mr. Nguyen Duy Cuong added that in case the employee does not receive a one-time social insurance payment, but reserves the payment period to continue participating, he/she will have higher benefits, such as better benefits, and the Social Insurance Fund will pay health insurance during the period of receiving pension with health insurance.

Along with that, workers also receive monthly allowances when they are not eligible for pension and are not old enough to receive social pension benefits... and at the same time enjoy health insurance guaranteed by the State budget.