Reduction of the Number of Years of Social Insurance Contributions Required for Pension Eligibility to 10 Years

Doan Trinh

08:19, 11/07/2024

On May 23, the Central Executive Committee of the 12th term issued Resolution 28-NQ/TW, reforming a series of social insurance policies.

The social insurance policies will be changed towards the goal of universal social insurance and emphasize pension adjustments in the direction of sharing. To be specific: as follows:

- Elderly people without a pension or monthly social insurance will receive social pension benefits.- Introducing Additional Retirement Insurance: This is voluntary pension insurance that allows employers and employees more options to participate and receive higher pension benefits.- Gradually reduce the minimum number of years of social insurance contributions to qualify for a pension from 20 years to 15 years, aiming towards 10 years.- Increase benefits for retaining social insurance participation time, reduce benefits if receiving a lump-sum social insurance payment.

See more on the policy of increasing the retirement age adjustment at Resolution 28-NQ/TW.

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