Good News: Eligibility for Pension Benefits Without 20 Years of Social Insurance Contributions

16:50, 10/07/2024

Current law stipulates that one of the conditions for receiving a pension is that the employee must have a minimum of 20 years of social insurance contributions. However, according to the spirit of Resolution 28-NQ/TW on social insurance policy reform, this period will be shortened in the near future.

Illustrative image (Source: internet)

In Section 2, Part III of Resolution 28-NQ/TW, there are amendments regarding the minimum period of participation in social insurance to qualify for pension benefits in a more flexible manner, along with adjustments to the calculation of pensions based on the principles of contribution - entitlement, fairness, equality, sharing, and sustainability.

To be specific, the objective is to revise the conditions for pension eligibility by gradually reducing the number of years of social insurance contributions required to receive a pension from 20 years to 15 years, progressing to 10 years with the entitlements calculated appropriately. This aims to facilitate access to and enjoyment of social insurance benefits for elderly workers with a low number of years of social insurance contributions.

Thus, in the near future, the social insurance reform policy of reducing the minimum period of social insurance contributions will contribute to providing more opportunities for elderly workers to receive a pension in their old age.

For detailed content, see Resolution 28-NQ/TW issued on May 23, 2018.

Duy Thinh

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn