Pursuant to Article 169 of the 2019 Labor Code, employees who have paid social insurance (SI) for a sufficient period of time as prescribed will receive a pension upon reaching retirement age.

Accordingly, the retirement age of workers in normal working conditions will be adjusted according to the roadmap until male workers reach 62 years old in 2028 and female workers reach 60 years old in 2035.

Buddhist Sangha (17).jpg

In 2025, the retirement age will continue to be adjusted, men 61 years 3 months, women 56 years 8 months.

Illustration: Chi Hieu.

From 2021, the retirement age of employees in normal working conditions is 60 years and 3 months for male employees; 55 years and 4 months for female employees. After that, it will increase by 3 months for male employees and 4 months for female employees each year.

Thus, in 2025, the retirement age under normal working conditions is as follows: male workers 61 years and 3 months, female workers 56 years and 8 months.

Workers with reduced working capacity; working in particularly arduous, toxic, or dangerous occupations or jobs; working in areas with particularly difficult socio-economic conditions may retire at a lower age, but not more than 5 years older than the prescribed age at the time of retirement, unless otherwise provided by law.

An expert in the field of labor said that increasing the retirement age for both male and female workers is necessary.

First, increase the retirement age to cope with the aging population and the risk of labor shortage in the future. Vietnam has entered the aging population phase at a very rapid rate and is expected to face the problem of labor shortage if the retirement age is not adjusted to increase.

In addition, adjusting the retirement age is one of the measures to ensure the right to work of workers, taking advantage of the elderly but experienced human resources, in the context of increasingly improved health of workers.

Furthermore, adjusting the retirement age also aims to narrow the gap in retirement age between men and women, promoting gender equality in the labor market.

In particular, increasing the retirement age is also one of the important measures to balance finances and ensure pension funds.

Workers with high professional and technical qualifications and some special cases may retire at a higher age but not more than 5 years older than the prescribed age at the time of retirement, unless otherwise provided by law.