Another 12 million people without a pension will get benefits next year.

According to the new law, monthly social pension allowance is regulated by the Government in accordance with development conditions economic Every three years, the government carries out a review to consider adjusting social pension allowances.

Depending on socio-economic conditions, the ability to balance budgets and mobilize social resources, people's committees at provincial level submit decisions for additional support to beneficiaries of social pension allowances.

If the person receiving social pension benefits is also a monthly recipient of social allowances, he or she will be entitled to higher benefits.

With this amendment, Ministry of Labour - Injured and Social When the new law takes effect on July 1, 2025, it is expected that about 1. 2 million additional elderly people who do not have a pension, monthly social security allowance will be entitled to a monthly social retirement benefit.

Additional social retirement benefits

Along with the social pension subsidy policy, the Social Insurance Law 2024 also adds provisions to increase the link between the social retirement benefit layer and basic social insurance. That is, it adds a monthly allowance regime for workers who are not eligible for pensions, and have not reached the age of receiving social pension benefits.

Accordingly, Vietnamese citizens who are of retirement age but have not worked long enough to qualify for a pension (less than 15 years of service), and are underage to receive social pension allowance (less than 75 years old), if they do not benefit from one-time social insurance, and without savings that is required, will be entitled to monthly benefits from their own contributions.

During their monthly allowance, they're covered by the state budget. medical.

Regarding the level of allowance for those who reach retirement age but are not eligible to receive a pension as above, the Law on Government Appointments regulates this amount.

Regarding the implementation of the new Social Insurance Law when it comes into force, in accordance with the Prime Minister's Decision issued on July 27, to regulate the details of this law, the Government will issue 11 Decrees.

Among them, the Ministry of Labor - Injured Persons and Social Affairs will preside over the drafting of 7 decrees, 3 decrees by the Finance Ministry and 1 decree by the Defense Ministry.

Specifically, the Ministry of Labor - Injured Persons and Social Affairs will issue two circulars, and the Ministry of Health will issue one circular. The Decrees and guidance circulars assigned by the Prime Minister to construction units are all required to ensure that they are issued and effective simultaneously with the enactment of the Law on Social Insurance 2024, i. e. , July 1, 2025.