Pensions and benefits will increase by 15% from July 1. Those who were receiving pensions before 1995, after adjustment, if their benefit level is lower than 3.2 million VND/month, will be adjusted to increase by 0.3 million VND/month, those who receive from 3.2 million VND/month to less than 3.5 million VND/month will be adjusted to 3.5 million VND/month.

Thus, in the pension and allowance payment period of July, the beneficiaries' benefits will also be adjusted.

Recently, Vietnam Social Security has proposed that competent authorities should soon issue a document guiding the draft to increase pensions and allowances by 15% so that this unit has a basis to pay new pensions and allowances from July 1.

Thus, the specific payment schedule in July with pension and allowance levels adjusted by 15% is pending guidance from the authorities.

However, according to the provisions of Decision 166/QD-BHXH in 2019 of Vietnam Social Security, the monthly pension and insurance benefit payment schedule is from the 2nd to the 25th of the month.

Specifically, payment at the payment point from the 2nd to the 10th of the month is organized for at least 6 hours/day at all payment points; payment will only end before the 10th for points that have paid all beneficiaries according to the list sent by the Social Insurance agency.

Payment at the District Post Office transaction point from the 11th of the month, continue to pay at the post office transaction points until the 25th of the month.

If the proposal to increase pensions and benefits by 15% is passed, this will be the highest increase in pensions and social insurance benefits ever.

Vietnam Social Security said that the scope of application is very wide, reaching nearly 3.4 million people, including pensioners from compulsory social insurance (public and private sectors) and voluntary social insurance participants.