Receive monthly benefits if you do not withdraw "all at once" when paying social insurance for less than 15 years

The new Social Insurance Law 2024, passed by the National Assembly and effective from July 1, 2025, stipulates that employees who reach retirement age and have paid social insurance for 15 years will receive a pension.

However, the new law also stipulates that Vietnamese citizens who are of retirement age and have paid social insurance but are not eligible for pension (not 15 years) according to the law and are not eligible for social pension (not 75 years old), if they do not receive one-time social insurance and do not reserve it but have a request, they will receive monthly benefits from their own contributions.

The duration and level of monthly benefits are determined based on the employee's social insurance contribution period and basis.

The lowest monthly allowance is equal to the monthly social pension allowance (currently regulated at 500,000 VND).

In case the total amount calculated based on the payment period and the basis for social insurance payment of the employee is higher than the amount calculated for the monthly allowance equal to the social pension allowance at the time of settlement for the period from retirement age to social pension age, the employee will be calculated to receive a monthly allowance at the higher level.

In case the total amount calculated based on the payment period and the basis for social insurance payment is not enough for the employee to receive monthly benefits until reaching the age of receiving social pension benefits, if the employee wishes, he/she can make a one-time payment for the remaining amount to receive until reaching the age of receiving social pension benefits.

In particular, the above monthly subsidy level is adjusted based on the increase in consumer price index in accordance with the budget capacity and social insurance fund; it will be specified in detail by the Government.

People who are receiving monthly benefits have their health insurance paid for by the State budget.

In case a person receiving monthly benefits dies, relatives will receive a one-time benefit for the months not yet received and a one-time funeral benefit.

For employees who are not eligible for pension and are not old enough to receive social pension benefits, they will receive monthly benefits from their social insurance contributions to benefit them when they reach retirement age.

According to a labor expert, although the monthly subsidy is not high, during the time the beneficiary enjoys the regime, the state budget pays for health insurance, so when they get sick in old age, the financial burden on relatives and family will be significantly reduced.