Methods to help employees in Vietnam receive maximum retirement benefits when they do not meet the conditions

Case 1: Employees who have reached retirement age but have not contributed enough years to social insurance in Vietnam.

In the case where an employee wants to receive a pension, employee needs to make a one-time voluntary Social Insurance contribution for the remaining years but no more than 10 years (120 months). If employee is of retirement age but missing more than 10 years of Social Insurance contributions and wishes to:

- Continue making voluntary Social Insurance contributions until the remaining contribution period is no more than 10 years through one of the following methods: monthly contributions; quarterly contributions (every 3 months); semi-annual contributions (every 6 months); annual contributions (every 12 months); or a one-time contribution for multiple years but no more than 5 years per one-time contribution;

- Subsequently, make a one-time contribution for the missing years (no more than 10 years) to receive a pension.

This content is stipulated in Clause 2, Article 9 of Decree 134/2015/ND-CP and Article 8 of Circular 01/2016/TT-BLDTBXH.

Case 2: Employees who have enough years of social insurance contributions but have not reached retirement age in Vietnam.

Article 61 of the Social Insurance Law 2014 stipulates that an employee who does not want to receive a one-time Social Insurance payment can preserve the Social Insurance contribution period until reaching the retirement age and complete the required procedures to receive a pension.

For cases where Social Insurance has been preserved but the employee returns to work and is not yet at retirement age (subject to mandatory Social Insurance contributions), the contribution period in the new employment will be aggregated with the previously preserved Social Insurance contribution period to calculate Social Insurance policies.

The procedure for finalizing the Social Insurance book and preserving the contribution period will be carried out by the employer, and the employee only needs to notify the employer after the end of the labor contract.

Case 3: Employees who have not reached retirement age and have not contributed enough years to social insurance in Vietnam

In this case, to receive a pension, the employee needs to:

- Preserve the Social Insurance contribution period as stipulated in Article 61 of the Social Insurance Law 2014, and;

- Make voluntary Social Insurance contributions to reach 20 years of Social Insurance contribution as stipulated in Clause 2, Article 9 of Decree 134/2015/ND-CP.

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