Social pension benefits are a new point of interest in the 2024 Social Insurance Law, aiming to form a multi-layered social insurance system.

Accordingly, the age of receiving social pension benefits is reduced from 80 to 75 years old; for people from poor and near-poor households, from 70 to under 75 years old are entitled to receive social pension benefits.

Social pension benefits are a type of social insurance guaranteed by the state budget. Illustrative photo

Conditions for receiving social pension benefits: Vietnamese citizens are entitled to receive social pension benefits when meeting 3 conditions: 75 years of age or older, not receiving monthly pension or social insurance benefits, except in other cases as prescribed by the Government and have a written request to receive social pension benefits.

Elderly people from 70 to under 75 years old, from poor households or near-poor households and meeting the prescribed conditions (not receiving monthly pension or social insurance benefits; having a written request to receive social retirement benefits) are entitled to receive social retirement benefits.

The level of social pension benefits depends mainly on the ability of the State budget to guarantee but is not lower than the standard monthly social allowance level, the lowest being 500,000 VND/month.

When receiving social pension benefits, people have their health insurance paid for by the State budget. When they die, the organization or individual in charge of the funeral will receive funeral expense support according to the law on the elderly.

Expected time to receive benefits: Elderly people who are 75 years old before July 1, 2025 will receive benefits from July 1, 2025; Elderly people who are 75 years old after July 1, 2025 will receive benefits from the time they are 75 years old;

Elderly people who are 70 years old before July 1, 2025 will receive benefits from July 1, 2025; Elderly people who are 70 years old after July 1, 2025 will receive benefits from the time they are 70 years old.

Thus, it is expected that about 1.2 million more elderly people without pensions or monthly social insurance benefits will receive social pension benefits from July 1, 2025 when the Social Insurance Law 2024 officially takes effect.