From July 01, 2025, will a person who contributes a minimum of 15 years of social insurance in Vietnam be entitled to pension?
From July 01, 2025, will a person who contributes a minimum of 15 years of social insurance in Vietnam be entitled to pension?
Based on Article 64 of the Social Insurance Law 2024 regulating subjects and conditions for pension benefits:
Subjects and conditions for pension benefits
- The subjects specified at points a, b, c, g, h, i, k, l, m, and n of Clause 1 and Clause 2 of Article 2 of this Law, when they stop working with a mandatory social insurance payment period of 15 years or more, will be eligible for a pension if falling into one of the following cases:
a) Reaching the retirement age as specified in Clause 2, Article 169 of the Labor Code;
b) Reaching the retirement age as specified in Clause 3, Article 169 of the Labor Code and having a total mandatory social insurance payment period of 15 years or more when working in heavy, hazardous, dangerous, or especially heavy, hazardous, dangerous occupations or jobs listed by the Minister of Labor, Invalids, and Social Affairs, or working in areas with extremely difficult socio-economic conditions including the time period in areas with a regional allowance coefficient of 0.7 or more before January 01, 2021;
c) Being up to 10 years younger than the age specified in Clause 2, Article 169 of the Labor Code, and having 15 years or more in underground coal mining according to the regulations of the Government of Vietnam;
d) Persons infected with HIV/AIDS due to occupational accidents during the performance of their duties.
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Based on Article 54 of the Social Insurance Law 2014 (amended by point a of Clause 1, Article 219 of the Labor Code 2019) regulating conditions for pension benefits:
Conditions for pension benefits
- Employees specified at points a, b, c, d, g, h, and i of Clause 1, Article 2 of this Law, except for cases specified in Clause 3 of this Article, when stopping work with at least 20 years of social insurance contributions, will be eligible for a pension if falling into one of the following cases:
a) Reaching the age as specified in Clause 2, Article 169 of the Labor Code;
b) Reaching the age as specified in Clause 3, Article 169 of the Labor Code and having at least 15 years in heavy, hazardous, dangerous, or especially heavy, hazardous, dangerous occupations or jobs listed by the Ministry of Labor, Invalids, and Social Affairs, or having at least 15 years working in areas with extremely difficult socio-economic conditions, including the time period in areas with a regional allowance coefficient of 0.7 or more before January 01, 2021;
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Thus, from July 01, 2025, employees is eligible for a pension when participating in mandatory social insurance for 15 years or more instead of having to participate for 20 years as currently regulated.
From July 01, 2025, will a person who contributes a minimum of 15 years of social insurance in Vietnam be entitled to pension? (Image from the Internet)
Which type of social insurance participation will employees in Vietnam receive a pension for?
Based on Article 4 of the Social Insurance Law 2024 regulating types and benefits of social insurance:
Types and benefits of social insurance
- Social pension assistance includes the following policies:
a) Monthly social pension allowance;
b) Funeral expense assistance;
c) Health insurance covered by the state budget.
- Mandatory social insurance includes the following policies:
a) Sickness;
b) Maternity;
c) Pension;
d) Survivorship;
dd) Occupational accident and disease insurance as regulated by the Law on Occupational Safety and Health.
- Voluntary social insurance includes the following policies:
a) Maternity allowance;
b) Pension;
c) Survivorship;
d) Occupational accident insurance as regulated by the Law on Occupational Safety and Health.
- Unemployment insurance as regulated by the Law on Employment.
- Supplemental pension insurance.
According to the above regulations, employees participating in mandatory social insurance and voluntary social insurance are eligible for a pension.
What are rights of participants of social insurance in Vietnam?
Based on Clause 1 of Article 10 of the Social Insurance Law 2024, social insurance participants have the following rights:
- Enjoy social insurance benefits as regulated
- Be granted a social insurance book
- Be periodically provided monthly information by the social insurance agency on social insurance contributions through electronic means; be confirmed by the social insurance agency on social insurance contributions when requested
- Request employers and relevant agencies, organizations to fully comply with their social insurance responsibilities as regulated by law
- Be disseminated information and laws about social insurance
- Proactively undergo medical examinations to determine the level of labor capacity if in cases of reserving social insurance contributions and be reimbursed for medical examination fees when the medical examination results are sufficient to enjoy social insurance benefits as regulated
- File complaints, denunciations, and lawsuits about social insurance as regulated by law
