Vietnam: Who is eligible for pension enjoyment in 2023 when paying compulsory social insurance or voluntary social insurance premiums?
What are the conditions for pension enjoyment in Vietnam in 2023 for persons paying compulsory social insurance premiums?
Pursuant to Article 54 of the 2014 Law on Social Insurance of Vietnam (amended by point a, clause 1, Article 219 of the 2019 Labor Code of Vietnam) on the conditions for receiving retirement pension in 2023 for employees paying compulsory social insurance premiums as follows:
Group 1:
(1) Regarding subjects of this group, including:
- Persons working under indefinite-term labor contracts, definite-term labor contracts, seasonal labor contracts or contracts for given jobs with a term of between full 3 months and under 12 months, including also labor contracts signed between employers and at-law representatives of persons aged under 15 years in accordance with the labor law;
- Persons working under labor contracts with a term of between full 1 month and under 3 months;
- Cadres, civil servants and public employees;
- Defense workers, public security workers and persons doing other jobs in cipher organizations;
- Vietnamese guest workers defined in the Law on Vietnamese Guest Workers;
- Salaried managers of enterprises and cooperatives;
- Part-time staffs in communes, wards and townships.
(2) Regarding conditions for receiving retirement pension in 2023:
Case 1: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she must be at least 60 years and 9 months old for male and at least 56 years old for female.
Case 2: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she with the minimum age to satisfy the conditions must be at least 55 years and 9 months old for male and at least 51 years old for female.
- He/she has at least 15 years’ doing the laborious, toxic or dangerous works or highly laborious, toxic or dangerous works on the lists of the Ministry of Labor, War Invalids and Social Affairs; or has at least 15 years’ working in highly disadvantaged areas, including the period he/she works in areas with the region factor of at least 0,7 before January 01, 2021
Case 3: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she must be at least 50 years and 9 months old for male and at least 46 years old for female.
- He/she has worked in coal mines for at least 15 years;
Case 4: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she contracted HIV due to an occupation accident during performance of his/her assigned duty.
Case 5: Particularly female employee that is a commune official or a part-time worker at the commune authority paying social insurance satisfy the following conditions:
- He/she has paid social insurance for at least from 15 years to under 20 years.
- He/she must be full 56 years.
Group 2:
(1) Regarding subjects of this group, including:
- Officers and professional army men of the people's army; officers and professional non-commissioned officers and officers and technical non- commissioned officers of the people's public security; and persons engaged in cipher work and enjoying salaries like army men;
- Non-commissioned officers and soldiers of the people’s army; non- commissioned officers and soldiers on definite-term service in the people’s public security; army, public security and cipher cadets who are entitled to cost- of-living allowance;
(2) Regarding conditions for receiving retirement pension in 2023:
Case 1: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she with the minimum age to satisfy the conditions must be at least 55 years and 9 months old for male and at least 51 years old for female, unless otherwise prescribed by the Law on Military Officer of Vietnam’s Army, the Law of People’s Police, the Law on Cipher and the Law on professional servicemen and women, national defense workers and officials;
Case 2: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she has at least 15 years’ doing the laborious, toxic or dangerous works or highly laborious, toxic or dangerous works on the lists of the Ministry of Labor, War Invalids and Social Affairs; or has at least 15 years’ working in highly disadvantaged areas, including the period he/she works in areas with the region factor of at least 0,7 before January 01, 2021;
- He/she with the minimum age to satisfy the conditions must be at least 50 years and 9 months old for male and at least 46 years old for female.
Case 3: In case the following conditions are met:
- He/she has paid social insurance for at least 20 years.
- He/she contracted HIV due to an occupation accident during performance of his/her assigned duty.
Who is eligible for pension enjoyment in Vietnam in 2023 when paying compulsory social insurance or voluntary social insurance premiums? (Image from the Internet)
What are the conditions for pension enjoyment in 2023 for persons paying voluntary social insurance premiums?
Pursuant to Article 73 of the 2014 Law on Social Insurance of Vietnam (amended by point c, Clause 1, Article 219 of the 2019 Labor Code of Vietnam), persons paying voluntary social insurance premiums are entitled to a pension in 2023 when they fully satisfy the following conditions:
- have paid social insurance for at least 20 years.
- Full 60 years 9 months old for male, full 56 years old for female.
Employees who satisfy the age requirement specified at Point a, Clause 1 of this Article but have paid social insurance premiums for under 20 years may continue paying social insurance premiums until the payment period reaches full 20 years in order to enjoy pension.
Will the minimum pension rate increase from July 1, 2023?
Pursuant to Clause 5, Article 56 of the 2014 Law on Social Insurance of Vietnam, the lowest monthly pension of employees covered by compulsory social insurance who fully satisfy the conditions for pension enjoyment must equal the statutory pay rate.
Most recently, the National Assembly approved an increase from VND 1,490,000/month to VND 1,800,000/month from July 1, 2023. According to that, the minimum pension will increase from VND 1,490,000/month to VND 1,800,000/month from July 1, 2023.
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