Pensioners without pensions receive monthly benefits from July 1

From July 1, 2025, according to the Social Insurance Law 2024, people who are not eligible for pension and are of retirement age will receive monthly benefits.

The elderly are entitled to social pension benefits.

From July 1, 2025, millions of elderly people without pensions across the country will officially receive monthly social pension benefits, according to the provisions of the Law on Social Insurance 2024.

Specifically, the Social Insurance Law 2024 stipulates that from July 1, social pension benefits will be added to form a multi-layered social insurance system. Accordingly, the age of receiving social pension benefits is 5 years lower than the current age of receiving monthly social benefits for the elderly, specifically:

Vietnamese citizens aged 75 and over who do not receive a pension or monthly social insurance benefits are entitled to social pension benefits. Vietnamese citizens aged 70 to under 75 who are from poor or near-poor households and meet the conditions are entitled to social pension benefits.

From July 1, 2025, pension eligibility conditions will have many new points. Illustrative photo

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New policy on early retirement: Enjoy full pension and 3 benefits

Pension and one-time benefits upon retirement from July 1

The monthly social pension allowance level is regulated by the Government in accordance with the socio -economic development conditions and the capacity of the State budget at each period. Every 3 years, the Government reviews and considers adjusting the social pension allowance level.

Depending on socio-economic conditions, the ability to balance the budget and mobilize social resources, the People's Committee at the provincial level shall submit to the People's Council at the same level a decision to provide additional support for social pension beneficiaries.

Notably, social pension beneficiaries are also covered by health insurance by the State, and upon death, relatives or funeral organizers will receive funeral expenses as prescribed. Thus, if they are also eligible for monthly social benefits, the elderly will be entitled to the higher subsidy of the two regimes.

Pension allowance for those not eligible for pension

Not only supporting the elderly group without pension, the Social Insurance Law 2024 (Article 23) also supplements the monthly regime for employees who are not eligible for pension and are not old enough to receive social retirement benefits, specifically:

Vietnamese citizens who are of retirement age and have paid social insurance but are not eligible for pension according to the law and are not eligible for social retirement benefits, if they do not receive a lump sum social insurance payment and do not reserve it, but upon request, they will receive a monthly allowance from their own contributions.

The duration and level of monthly benefits are determined based on the employee's social insurance contribution period and basis. The lowest monthly benefit level is equal to the monthly social pension benefit level.

In case the total amount calculated based on the payment period and the basis for social insurance payment of the employee is higher than the amount for calculating the monthly allowance equal to the social pension allowance at the time of settlement for the period from retirement age to social pension allowance age, the employee will be calculated to receive a monthly allowance at the higher level.

In case the total amount calculated based on the payment period and social insurance payment basis is not enough for the employee to receive monthly benefits until reaching the age of receiving social retirement benefits, if the employee wishes, he/she can make a one-time payment for the remaining amount to receive until reaching the age of receiving social retirement benefits.

Accordingly, the monthly allowance level is adjusted when the Government adjusts monthly pensions and social insurance allowances. During the period of receiving monthly allowances, the state budget pays for health insurance; when the deceased dies, relatives are entitled to a one-time allowance for the months not yet received and are entitled to a funeral allowance if they meet the prescribed conditions.

The new policy will help avoid the situation where many elderly people live without income, and at the same time create opportunities for those who have participated in social insurance but have not met the payment period requirements.

Bao Thoa

Source: https://congthuong.vn/nguoi-khong-co-luong-huu-nhan-tro-cap-hang-thang-tu-17-382889.html