People aged 75 and over without pension are entitled to retirement benefits.

On June 29, the National Assembly passed the amended Law on Social Insurance. Compared to the 2014 Law on Social Insurance, the amended Law on Social Insurance has many changes towards major goals. One of the notable provisions is the provision that Vietnamese citizens who are 75 years old or older are entitled to social pension benefits.

Vietnam Social Security said it will supplement social pension benefits to form a multi-layered social insurance system in accordance with Resolution No. 28 on reforming social insurance policies.

According to statistics by the end of 2022, Vietnam has about 14.4 million people over retirement age (from 55 years old for women; from 60 years old for men). The total number of people receiving pensions, monthly social insurance benefits, and social retirement benefits is more than 5.1 million people, accounting for about 35% of the total number of people over retirement age.

One of the reform contents in Resolution 28 has identified the construction of a multi-layered social insurance system, including: Social pension benefits; Basic social insurance, including compulsory social insurance and voluntary social insurance; Additional pension insurance; At the same time, it sets a specific goal that by 2030, about 60% of people after retirement age will receive pensions, monthly social insurance and social pension benefits.

The new Social Insurance Law passed by the National Assembly has institutionalized the above reform content and also demonstrated the connection and flexibility between levels and support between social insurance policies to achieve the goal of expanding coverage according to Resolution No. 28. Accordingly, the revised Social Insurance Law has added provisions on social pension benefits.

Accordingly, Vietnamese citizens aged 75 or older who do not have a monthly pension or social insurance allowance (except in other cases as prescribed by the Government) or Vietnamese citizens aged 70 to under 75 who are from poor or near-poor households and meet the prescribed conditions are entitled to social pension allowance guaranteed by the state budget.

The monthly social pension allowance level is determined by the Government in accordance with the socio-economic development conditions and the capacity of the state budget at each period. Every 3 years, the Government reviews and considers adjusting the social pension allowance level.

Depending on socio-economic conditions, the ability to balance the budget and mobilize social resources, the Provincial People's Committee shall submit to the People's Council of the same level a decision on additional support for social pension beneficiaries.

People receiving monthly social pension benefits have their health insurance paid for by the state budget according to the provisions of the law on health insurance; when they die, the organization or individual in charge of the funeral will receive support for funeral expenses according to the provisions of the law on the elderly.

The revised Law on Social Insurance also adds regulations on the regime for employees who are not eligible for pension and are not old enough to receive social retirement benefits.

Vietnamese citizens who are of retirement age and have paid social insurance but are not eligible for pension (less than 15 years of payment) and are not eligible for social pension benefits, if they do not receive one-time social insurance benefits or do not reserve them 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. During the monthly benefit period, the state budget will pay for health insurance.