Conditions for people born in 1975 to receive pension

Mr. Pham Duc Hoa was born in February 1975, is a civil servant working under normal working conditions, and has participated in compulsory social insurance from 2002 to 2023.

Mr. Hoa wants to retire but does not know if he is eligible for early retirement and monthly pension under the staff streamlining policy. If not, how can he be eligible for pension?

Điều kiện để người sinh năm 1975 được nhận lương hưu - 1 — The retirement age of civil servants born in 1975 working under normal working conditions is 62 years old (Illustration: Quoc Anh).

According to Vietnam Social Security, the roadmap for increasing the retirement age of employees under normal working conditions is clearly stipulated in Clause 2, Article 169 of the Labor Code and Clause 1, Article 4 of Decree No. 135/2020/ND-CP.

Accordingly, from January 1, 2021, the retirement age of employees under normal working conditions is 60 years and 3 months for male employees and 55 years and 4 months for female employees.

After that, it will increase by 3 months each year for male workers until they reach 62 years old in 2028 and by 4 months each year for female workers until they reach 60 years old in 2035.

Based on the above roadmap for increasing the retirement age, male workers born in February 1975 will retire at the age of 62 in March 2037. Thus, at this time, Mr. Hoa still has more than 10 years to reach the retirement age according to regulations.

According to the Vietnam Social Security, according to the provisions of Article 55 of the 2014 Law on Social Insurance, amended and supplemented in Article 219 of the 2019 Labor Code, employees who have paid social insurance for 20 years or more when leaving work are entitled to early retirement and receive a monthly pension at a lower level than those eligible for pension.

Under normal working conditions, employees can retire early, up to 5 years lower than the prescribed retirement age when their working capacity is reduced from 61% to less than 81%; or up to 10 years lower than the maximum age when their working capacity is reduced from 81% or more.

Even if Mr. Hoa is eligible to retire at an age 10 years lower than the maximum prescribed retirement age when his working capacity is reduced by 81% or more, he still does not meet the age requirement.

According to Clause 2, Article 5 of Decree No. 29/2023/ND-CP dated June 3, 2023 of the Government regulating staff streamlining, the subjects of staff streamlining who are at least 5 years younger than the maximum age, at least 2 years younger than the prescribed retirement age and have paid 20 years or more of compulsory social insurance are entitled to receive pension.

Compared with the above regulations, Mr. Hoa is not yet eligible for retirement benefits under the current staff reduction policy.

However, if Mr. Hoa quits his job at this time, he can continue to participate in compulsory social insurance at another unit, or participate in voluntary social insurance if he does not work in the formal sector until he is old enough to receive a pension.

Because Mr. Hoa has paid social insurance for 21 years, he can also stop paying social insurance when he retires at this time, reserving the time he has paid social insurance to wait until he reaches the retirement age according to regulations to receive pension benefits.

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