Conditions for Receiving a Pension for Voluntary Social Insurance Participants

I am Ngoc Huy, currently working in Ho Chi Minh City. Since my parents are farmers, they have not participated in insurance before. I have learned that participating in voluntary social insurance would allow one to receive a pension in old age. Therefore, I would like to ask the Editorial Board: What are the conditions for receiving a pension for individuals participating in voluntary social insurance, as stipulated?

Conditions for Pension Entitlement for Participants in Voluntary Social Insurance as Stipulated in the 2014 Law on Social Insurance, are as follows:

- Voluntary Social Insurance is a form of social insurance organized by the State where participants can choose their level and method of contribution suitable to their income, and the State has a policy to support the payment of social insurance contributions so that participants can receive pension benefits and death allowances.

- Participants in voluntary social insurance are Vietnamese citizens aged 15 and older who are not required to participate in compulsory social insurance.

Policies that participants in voluntary social insurance are entitled to:

+ Pension;

+ Death allowances.

- Conditions for pension entitlement for participants in voluntary social insurance: Males aged 60, females aged 55 with at least 20 years of social insurance contributions (the duration includes the total time participating in social insurance).

The editorial board provides this information for your reference.

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