Submit to the National Assembly a plan to pay social insurance for 15 years

Under the authorization of the Prime Minister, Minister of Labor, War Invalids and Social Affairs (MOLISA) Dao Ngoc Dung has just signed a submission to the National Assembly on the draft Law on Social Insurance (amended). This draft law will be given the first opinion by the National Assembly at the 6th Session scheduled to open on October 23.

The proposal mentions the content of reducing the minimum social insurance payment period to receive pension from 20 years to 15 years in order to increase the number of people receiving pension.

The report cited the content of Resolution 28 of the Central Committee, which stated the amendment of the conditions for enjoying the pension regime in the direction of gradually reducing the minimum number of years of social insurance contributions to enjoy the pension regime from 20 years to 15 years, towards 10 years.

The benefit level is calculated appropriately to create conditions for elderly workers with low years of social insurance participation to access and enjoy social insurance benefits.

The Government said that according to the principles of social insurance and international practice, to receive pension, employees must simultaneously meet two conditions: reaching retirement age and having paid the minimum social insurance period.

As for the minimum period of social insurance payment, according to the current Law on Social Insurance, it is 20 years. The Government believes that this regulation has caused difficulties and reduced the opportunity to receive pensions for some people who have not paid social insurance for 20 years.

Therefore, Article 64 of the draft Law has been amended to stipulate that employees who reach retirement age and have paid social insurance for 15 years or more will receive a monthly pension.

This regulation aims to create opportunities for some groups of people who start participating in social insurance late (starting participation at 45-47 years old) or participating intermittently, and also those who do specific jobs with short working time, leading to not having accumulated enough 20 years of social insurance contributions when reaching retirement age, to have the opportunity to receive monthly pensions and be guaranteed health insurance.

This regulation also contributes to reducing the number of people receiving one-time social insurance benefits due to eligibility for pension. For employees with a longer social insurance payment period, they will still receive pensions with a higher pension rate unchanged compared to current regulations.