Since July 1, local Social Insurance agencies have quickly implemented pension payments according to the new increase. Many people were happy when they received their salaries without any signs of it.

Due to her old age, Ms. Luong Thi Hai, 91 years old (in Yet Kieu ward, Ha Dong district, Hanoi) received her salary from the Social Insurance at home on July 1. Previously, Ms. Hai worked at an agricultural mechanical factory. Since April 1984, she has been unemployed with a Social Insurance payment of 290 VND/month.

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Pensions have been adjusted many times. Illustration photo: Chi Hieu.

After many salary adjustments, Ms. Hai currently receives a pension of VND 4,813,000/month, an increase of VND 627,800 compared to the June 2024 salary.

In addition to her pension being adjusted many times, Ms. Hai is also given a free health insurance card to take care of her health when she is sick.

With diabetes, Mrs. Hai often uses her health insurance card to go to the doctor. Thanks to that, she feels more secure in her old age, reducing her dependence on her children and grandchildren.

Ms. Le Thi Chi, 61 years old (in Kien Hung ward, Ha Dong district, Hanoi ) after participating in compulsory social insurance, when she retired, she continued to participate in voluntary social insurance for 5 years and 4 months to be eligible for retirement benefits in July 2018.

Ms. Chi receives her pension through an ATM account with the amount of 2,344,400 VND/month (an increase of 305,800 VND compared to the salary in June 2024). According to Ms. Chi, receiving the regime through a bank account is very quick, safe and does not require time to go to payment points.

Regarding the pension increase, Ms. Chi shared that whether participating in compulsory or voluntary social insurance, when paying for the required time according to regulations, the salary will be adjusted to increase, contributing to ensuring life when old and weak. Especially when enjoying the pension regime in addition to salary, Ms. Chi is also given a free health insurance card by the State.

In addition to the general pension adjustment increase of 15%, for those receiving pension before 1995, after adjustment, the benefit level is lower than 3.2 million VND/month, it will continue to be adjusted to increase by 0.3 million VND/month; those with a benefit level from 3.2 million VND/month to less than 3.5 million VND/month will be adjusted to 3.5 million VND/month.

Ms. Le Thi Thu, 65 years old (in Nong Cong, Thanh Hoa ) has been enjoying disability benefits since May 1993. Currently, Ms. Thu receives a monthly pension of nearly 2 million VND.

According to the new pension increase policy, from July 1, in addition to the general pension increase of 15%, Ms. Thu will receive an additional increase of more than 300,000 VND/month.

Ms. Thu shared that the current monthly allowance is low compared to the general pension level, so the State's attention to adjusting the increase by 300,000 VND/month for low-wage earners has contributed to narrowing the gap between pensioners. The adjustment to increase pension twice will help ease the difficulties of her and many others' old age.

According to statistics, with the wide scope of application, the new payment of benefits according to Decree No. 75, the whole country will have more than 3.3 million people whose pensions and monthly social insurance benefits will be adjusted. Of which, about 200,000 people who received pensions and benefits before January 1, 1995 will continue to have their benefits adjusted according to the absolute amount paid by the State budget.

It is expected that the additional budget to pay pensions and monthly social insurance benefits in the last 6 months of 2024 from the State budget will be about 3,700 billion VND and from the Social Insurance Fund will be more than 12,500 billion VND.