Pensioners to receive monthly benefits from July 1

Elderly people receive 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

See also:

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 determined 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, budget balance capacity, and mobilization of social resources, the Provincial People's Committee shall submit to the People's Council of the same level a decision on additional support for social pension beneficiaries.

Notably, social pensioners 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 for those who are 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 pension benefits, if they do not receive a one-time social insurance payment and do not reserve it, but upon request, they will receive monthly benefits 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 calculated for the monthly allowance equal to the social pension allowance at the time of settlement for the period from retirement age to social pension 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 pension 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 pension 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; upon death, 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, while creating 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