From July 1, people without pension will receive social pension benefits.

From July 1, people without pensions will receive social pension benefits. Photo: Hai Nguyen

From July 1, people over 75 years old without pension will receive social pension benefits.

The Law on Social Insurance 2024 (effective from July 1) stipulates that social pension benefits are a type of social insurance guaranteed by the state budget, built on the basis of inheriting and partly developing from regulations on monthly social benefits for the elderly.

Accordingly, when the Law officially takes effect, the age of receiving social pension benefits will be reduced by 5 years compared to the current age of receiving monthly social pension benefits for the elderly (80 years old). Therefore, Vietnamese citizens aged 75 and over who do not receive monthly pensions or social insurance benefits will receive 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. The monthly social pension benefit 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 social pension benefits.

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 at the same level a decision on additional support for social pension beneficiaries.

Based on the Government's proposal in accordance with the socio-economic development conditions and the capacity of the state budget in each period, the Standing Committee of the National Assembly decided to gradually reduce the age of receiving social pension benefits.

Accordingly, 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 allowance age, the employee will be calculated to receive a monthly allowance at the higher level.

Millions of elderly people have no pensions or benefits.

According to statistics from the Ministry of Home Affairs (formerly the Ministry of Labor, War Invalids and Social Affairs), as of December 31, 2022, there were about 14.4 million retirees nationwide.

The Vietnam General Confederation of Labor estimates that about 5 million elderly people over 60 and under 80 who are not poor, not disabled, and do not receive monthly allowances may face difficulties in old age.

Many countries identify old-age benefits as an important layer in a multi-layered social insurance system, the trade union said.

Therefore, the state budget needs to provide an income guarantee for the elderly who do not have a pension or monthly social insurance benefit.

In the long term, the union recommends a policy of mobilizing social support to support this group with higher benefits and a roadmap to reduce the age of receiving social pensions appropriately.

According to Professor Giang Thanh Long - senior lecturer at the National Economics University, many governments give people monthly subsidies with a minimum living standard, ensuring the needs of food, healthcare, fuel, etc.

He said that the authorities could continue to increase social pension benefits to better support people, but it needed careful assessment from the authorities.

At the same time, expand the beneficiaries of pensions with accumulation from social insurance contributions and participation in additional life insurance.

According to laodong.vn

Source: https://baodanang.vn/xa-hoi/202504/tu-1-7-nguoi-chua-co-luong-huu-duoc-nhan-tro-cap-huu-tri-xa-hoi-4003491/