Increase in Pension Benefits for Workers with Preserved Social Insurance Contribution Periods

17:14, 10/07/2024

This is a noteworthy content stipulated in Resolution 28-NQ/TW on the reform of social insurance policies.

increase pension benefits

Illustration (source: internet)

Pension is considered a measure employed by the State to ensure that workers have an "income" to take care of their life in old age. However, at present, there is a widespread situation of abandoning pensions (due to not reaching retirement age) to receive a lump-sum social insurance payment. Therefore, Resolution 28-NQ/TW has introduced several measures to limit this situation of workers receiving lump-sum social insurance.

To be specific, the content of Resolution 28-NQ/TW clearly states as follows:

"There are appropriate regulations to reduce the situation of receiving lump-sum social insurance by increasing benefits if the period of social insurance participation is preserved to receive a pension, and reducing benefits if receiving lump-sum social insurance.

Amend the provisions to encourage workers to participate in social insurance for a longer period, gradually increase the average retirement age, and increase the rate of pension reduction for workers who want to receive an early pension."

Thus, in the near future, there will be detailed regulations on increasing the benefits for workers who preserve the period of participation in social insurance to receive a pension and reducing the benefits in the case of receiving lump-sum social insurance.

Detailed content can be found in Section III.6 of Resolution 28-NQ/TW issued on May 23, 2019.

Duy Thinh

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