Waiting for the new regulations to take effect to receive pension

In 2024, the retirement age for male workers is 61. By December 2024, Mr. Linh will be 61 years old, the legal retirement age. However, as of December 2024, Mr. Linh has only paid social insurance for 15 years and 6 months, not enough time to qualify for a pension.

Mr. Linh wondered: "I don't want to withdraw my social insurance at once. So, in December 2024, can I reserve my social insurance payment period and wait until the amended Social Insurance Law takes effect to receive my pension?"

Retirement regime ensures financial security for the elderly (Illustration photo: Ho Chi Minh City Social Insurance).

According to Vietnam Social Security, from July 1, 2025, the Social Insurance Law 2024 (Law No. 41/2024/QH15) will take effect. From this point on, employees who have paid social insurance for 15 years or more will receive pensions if they reach the retirement age as prescribed in Clause 2, Article 169 of the Labor Code.

According to the provisions of Clause 2, Article 169 of the 2019 Labor Code and Decree No. 135/2020/ND-CP of the Government, the retirement age of employees in normal working conditions is adjusted according to the roadmap.

Specifically, from 2021, the retirement age will be 55 years and 4 months for female workers and 60 years and 3 months for male workers. After that, it will increase by 4 months each year for female workers until reaching 60 years old in 2035, and by 3 months each year for male workers until reaching 62 years old in 2028.

Thus, from 2025, the retirement age of male workers in normal working conditions is 61 years and 3 months. When the Social Insurance Law 2024 takes effect (from July 1, 2025), Mr. Linh is 61 years and 7 months old, meeting the retirement age requirements according to regulations.

Clause 2, Article 69 of the Social Insurance Law No. 41/2024/QH15 stipulates that the time to receive pension for those who are reserving their social insurance payment period is the time when they are eligible to receive pension according to regulations and is stated in the employee's request.

According to Vietnam Social Security, comparing the above regulations, from the time the Social Security Law 2024 takes effect, if Mr. Linh meets the age requirement and has paid social insurance for 15 years or more, he is eligible for a pension.

Vietnam Social Security said: "When you receive pension benefits, you will receive a monthly pension for life, a free health insurance card, and other pension-related benefits."

Source: https://dantri.com.vn/an-sinh/cho-ngay-quy-dinh-moi-co-hieu-luc-de-huong-luong-huu-20240914161047614.htm