To agree on a proposal on social pension benefits for people without pensions from age 75 in Vietnam

To agree on a proposal on social pension benefits for people without pensions from age 75 in Vietnam (Internet image)

Regarding this issue, LawNet answers as follows:

To agree on a proposal on social pension benefits for people without pensions from age 75 in Vietnam

On July 26, 2023, at the regular July Government Meeting on the topic of lawmaking, the Government issued Resolution 114/NQ-CP on the draft Law on Social Insurance (amended).

Draft Law on Social Insurance (amended)

There is basic agreement on issues such as reducing the minimum social insurance payment period to enjoy a pension from 20 years to 15 years; reducing the age for social pension benefits from 80 years old to 75 years old; expanding the group of subjects participating in compulsory social insurance...

In addition, Resolution 114/NQ-CP also agreed on other notable contents of the draft Law on Social Insurance (amended) such as:

The Ministry of Labor, War Invalids, and Social Affairs presides and coordinates with relevant agencies to fully absorb comments from Government Members, completing the content of the draft Law towards:

- Institutionalizing and concretizing the Party's policies and guidelines on social insurance; Continue to summarize relevant legal regulations and remove difficulties from practice; fully evaluating the theoretical basis to identify issues that need to be inherited, issues that need to be supplemented or improved, or issues that need to be abolished; Organizing consultation with stakeholders, consulting with experts and scientists, and consulting on international experiences; Implement decentralization and authorization associated with inspection and supervision activities; diversify resources to mobilize organizations to implement the law...

- The issue of one-time withdrawal of social insurance is quite complicated and has a great impact on economic and social life, so two options can be proposed to seek the National Assembly's opinion in which it is necessary to express opinions and grounds for choosing a specific plan and research and prescribe practical measures to support and encourage employees to voluntarily reserve time to participate in social insurance to enjoy a pension instead of receiving one-time social insurance.

- Regarding social insurance management costs, it is necessary to synthesize two options to seek approval from the National Assembly, which clearly shows the selected option and determines the total specific Social Insurance management costs of each option based on a full assessment of the theoretical basis, domestic practice, and international practice.

- Agreeing on the need for support from the state budget to supplement policies, increase benefits, increase attractiveness, and attract people to participate in social insurance to ensure long-term social security for the people, demonstrating the policy of not sacrificing progress and social justice in pursuit of simple economic growth, aiming to achieve the goal of Resolution 28-NQ/TW dated May 23, 2018 of the 12th Central Executive Committee on social insurance policy reform.

Conditions for receiving social pension benefits in Vietnam 

Beneficiaries of social pension benefits are entitled to social pension benefits when they meet the following conditions:

- 75 years old or older;

- No pension or other monthly social insurance benefits according to Government regulations.

(Article 26 of the latest draft Law on Social Insurance)

Nguyen Ngoc Que Anh

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