Ms. Le Thi Thu (Hanoi), 40 years old, does freelance business. Currently, Ms. Thu wants to participate in voluntary social insurance from August 2024. Currently, you are not sure how long you have to pay to receive pension benefits?
Vietnam Social Security responded:
- Regarding participating in voluntary social insurance:
According to the current law on social insurance, participants in voluntary social insurance are Vietnamese citizens aged 15 years or older and are not subject to compulsory social insurance.
The monthly voluntary social insurance payment of voluntary social insurance participants is equal to 22% of the monthly income chosen by the participant, the lowest is equal to the poverty standard of rural areas, the highest is 20 times the base salary. at the time of closing.
Voluntary social insurance participants can choose one of the following payment methods to contribute to the retirement and survivorship fund: monthly, every 3 months, every 6 months, every 12 months, and one-time payment for many years. After but not more than once every 5 years, a one-time payment for the missing years for social insurance participants who have met the age conditions to enjoy pension according to regulations but the missing social insurance payment period is not more than 10 years (120 months). ) can be paid for 20 years to enjoy pension.
When participating in voluntary social insurance, participants receive payment support from the State based on a percentage (%) of the monthly social insurance payment according to the poverty standard of rural areas, specifically: Equal to 30% for participants from poor households; 25% for participants from near-poor households; 10% for other subjects. Maximum support period is 10 years.
- Regarding pension eligibility conditions:
Voluntary social insurance participants are entitled to pension when they meet the age conditions as prescribed in Article 169 of the 2019 Labor Code (in 2021, the retirement age of employees under normal working conditions is 55 years old). age 4 months for female workers. After that, each year increases by 04 months until reaching 60 years old in 2035) and has 20 years of social insurance payment or more.
- About the monthly pension
According to the provisions of Clause 2, Article 56 of the 2014 Law on Social Insurance, the monthly pension of eligible employees is calculated by 45% of the average monthly salary paid for social insurance and corresponding to the number of years of payment. Social insurance is as follows:
Female employees retiring from 2018 onwards will have 15 years. After that, for each additional year, an additional 2% is calculated; The maximum level is 75%.
Vietnam Social Insurance provides information on conditions for participating and receiving pensions for readers to understand. Readers are requested to base their decision on the policy's regulations and the family's economic situation on choosing the appropriate voluntary social insurance payment level and payment method; At the same time, contact the social insurance agency of your place of residence or the nearest local social insurance collection agent for advice and specific instructions on your participation in voluntary social insurance.
