Benefits of receiving social pension benefits from July 1, 2025

According to the revised Law on Social Insurance (SI), effective from July 1, 2025, social pension recipients, in addition to the monthly payment, will also receive health insurance (HI). Upon death, organizations and individuals will take care of the funeral and receive funeral cost support according to the provisions of the law on the elderly.

Accordingly, the Law on Social Insurance (amended) has added Chapter III on social pension benefits. Specifically: Vietnamese citizens aged 75 or older who do not have a pension or monthly social insurance benefit (except in other cases as prescribed by the Government) or Vietnamese citizens aged 70 to under 75 who are from poor households or near-poor households and meet the prescribed conditions are entitled to social pension benefits guaranteed by the State budget.

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

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 request, will receive monthly benefits from their own contributions. The duration and level of monthly benefits are determined based on the employee's social insurance payment period and basis. During the period of receiving monthly benefits, the State budget will pay for health insurance.

Currently, the social allowance level applied to people over 80 years old is 500,000 VND/month and will take effect from July 1, 2024. When the Law on Social Insurance comes into effect, this social allowance level will be renamed social pension allowance, for beneficiaries aged 75 and over and those aged 70 to under 75 years old belonging to poor and near-poor households.

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

One of the reform contents in Resolution No. 28-NQ/TW of the Central Committee has determined to build a multi-layered social insurance system, including: Social pension benefits; Basic social insurance, including compulsory social insurance and voluntary social insurance; supplementary 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 revised Law on Social Insurance has institutionalized the above reform content and also demonstrated the connection and flexibility between levels and the support between social insurance policies to achieve the goal of expanding coverage according to Resolution No. 28-NQ/TW.