What is the disbursement schedule for pension and social insurance allowances in Ho Chi Minh City during Tet 2025?

What is the disbursement schedule for pension and social insurance allowances in Ho Chi Minh City during Tet 2025?

On December 25, 2025, Ho Chi Minh City Social Insurance (BHXH) announced the disbursement schedule for pension and social insurance allowances during the Lunar New Year (Tet) 2025.

According to BHXH Ho Chi Minh City, the payment schedule for the pension and social insurance allowances for January and February 2025 will coincide with the payment in January 2025 within Ho Chi Minh City, as per Official Dispatch 4791/BHXH-TCKT of 2024...Download. Specifically, BHXH Ho Chi Minh City will disburse via two methods as follows:

(1) Disbursement through personal bank accounts:

- The pension and social insurance allowances for January and February 2025 will be transferred to the beneficiaries' accounts from January 2, 2025 (as January 1, 2025, is the Western New Year holiday).

The second pension and allowance payment (for cases where pensions and monthly social insurance allowances are resolved from December 21, 2024, to January 17, 2025) will be transferred on January 23, 2025.

(2) Cash disbursement:

- Ho Chi Minh City Post Office will conduct payments from January 4, 2025, to February 25, 2025 (excluding weekends and holidays as stipulated in Article 112 of the Labor Code 2019).

- As the Lunar New Year 2025 falls on January 29, 2025, BHXH Ho Chi Minh City encourages individuals receiving pension and social insurance allowances to collect them early at the Ho Chi Minh City Post Office disbursement points before January 25, 2025.

According to statistics from Vietnam Social Security, currently more than 3.3 million individuals nationwide receive monthly pension and social insurance allowances. Specifically, in Ho Chi Minh City, around 260,000 people benefit from these policies, with nearly 80% opting for disbursement via bank transfer.

What is the disbursement schedule for pension and social insurance allowances in Ho Chi Minh City during Tet 2025? (Image from Internet)

Is income from pension subject to personal income tax in Vietnam?

Based on the provisions at Article 4 of the Personal Income Tax Law 2007 (amended by Clause 2 Article 1 of the 2012 Amended Personal Income Tax Law and supplemented by Clause 3 Article 2 of the 2014 Tax Amendment Law), regarding exempt income, includes:

Tax-exempt Income

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5. Income from households and individuals directly engaged in agricultural, forestry, salt production, aquaculture, and fisheries that have not been processed into other products or have only been subject to preliminary processing.

6. Income from the conversion of agricultural land allocated by the State for production by households and individuals.

7. Interest income from deposits at credit institutions and income from life insurance contracts.

8. Income from remittances.

9. The portion of night shift or overtime wages paid higher than daytime or standard working hours as prescribed by law.

10. pension paid by the Social Insurance Fund; monthly pension paid by voluntary pension funds.

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Thus, pension are among the incomes exempt from personal income tax.

Is social insurance contribution deductible when calculating personal income tax in Vietnam?

According to Clause 2 Article 9 of Circular 111/2013/TT-BTC (amended by Article 15 of Circular 92/2015/TT-BTC), regulations on deductions when calculating personal income tax are specified as follows:

Deductions

Deductions as guided in this Article are amounts deducted from an individual's taxable income before determining taxable income from wages, salaries, and businesses, as follows:

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2. Deduction for insurance contributions, voluntary pension funds

a) Insurance contributions include: social insurance, health insurance, unemployment insurance, and professional liability insurance for certain professions required to participate in compulsory insurance.

b) Contributions to voluntary pension funds, and purchase of voluntary retirement insurance.

The contribution amount to voluntary pension funds, and purchase of voluntary retirement insurance shall be deducted from taxable income based on actual expenses but not exceeding one (01) million VND/month for employees participating in voluntary pension products as guided by the Ministry of Finance, including amounts paid by employers on behalf of employees and amounts self-contributed by employees (if any), including participation in multiple funds. The basis for determining deductible income is a photocopy of the payment receipt (or payment proof) issued by the voluntary pension fund or insurer.

c) Foreigners residing in Vietnam, and Vietnamese individuals residing but working abroad with income from business, wages, and salaries earned abroad who have participated in compulsory insurance as stipulated by the country of residency or work that is similar to regulations in Vietnamese law such as social insurance, health insurance, unemployment insurance, compulsory professional liability insurance, and other compulsory insurance (if any) are allowed to deduct such insurance contributions from taxable income from business, wages, and salaries when calculating personal income tax.

Foreign individuals and Vietnamese individuals with the above-mentioned insurance contributions abroad will have them temporarily deducted from income for tax deduction during the year (if with documentation) and calculated at the official rate if the individuals finalize their taxes according to regulations. If there is no documentation for temporary deduction during the year, it will be deducted once at final tax settlement.

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Thus, social insurance contributions (or similar insurance for foreign individuals residing in Vietnam, and Vietnamese individuals residing but working abroad with income from business, wages, and salaries abroad) will be deductible when calculating personal income tax.