One of the important new points of the Social Insurance Law 2024, effective from July 1, 2025, is to reduce the minimum social insurance payment period to receive pension from 20 years to 15 years.

This regulation is expected to create more motivation for workers to stay in the social insurance system instead of withdrawing it all at once.

Record reduction in workers withdrawing social insurance at one time

In fact, although this new policy has not yet taken effect, it has had a positive impact on workers.

According to the latest data from Vietnam Social Security, in the first three months of 2025, the whole country had 267,493 people receiving one-time social insurance payments, a decrease of nearly 70,000 people, equivalent to 26.17% compared to the same period last year.

The representative of Vietnam Social Security said that this sharp decline is not just a simple statistic, but reflects a change in the mindset of workers. They are beginning to be more aware of the long-term benefits of maintaining social insurance contributions to receive pensions instead of choosing to receive a lump sum.

Reducing the minimum social insurance payment period to receive pension has many positive impacts. Illustration: Thach Thao.

Reducing the minimum social insurance payment period to receive pension is of great significance to older workers, those who have participated in social insurance for a short time, or those who have left the system and want to return.

In addition, according to the new Social Insurance Law, in case an employee reaches retirement age but has not paid social insurance for 15 years, but does not withdraw social insurance at one time, he/she can still receive additional retirement benefits, at least 500,000 VND/month.

From 2025, social insurance can only be withdrawn once in special cases.

According to Vietnam Social Security, withdrawing social insurance at one time when leaving work can help employees solve temporary financial difficulties, but it also means losing many long-term benefits, especially retirement benefits.

When withdrawing at once, workers no longer have the opportunity to receive pension - a stable source of income when they retire, as well as lose benefits from preferential health insurance cards (health insurance funds pay up to 95% of medical examination and treatment costs).

In addition, relatives of workers are not entitled to death and funeral benefits when they pass away.

Starting from July 1, 2025, the one-time withdrawal of social insurance will be tightened, only applied in special cases such as: people with serious illnesses, people settling abroad, people with a labor capacity reduction of 81% or more, people with extremely severe disabilities,...

An expert commented that the new law is flexible in creating more opportunities to receive pensions, but also tougher in preventing early withdrawals from the system. This forces workers to consider carefully before deciding to withdraw or continue participating in social insurance.

Source: https://vietnamnet.vn/dong-bhxh-15-nam-duoc-nhan-luong-huu-nhieu-nguoi-kien-dinh-khong-rut-mot-cuc-2392864.html