Clause 4, Article 23 of the Law on Social Insurance 2024, stipulating the monthly allowance level prescribed in Clause 3 of this Article, shall apply the adjustment according to the provisions of Article 67 of this Law.
Clause 3, Article 23 stipulates: The lowest monthly allowance is equal to the monthly social pension allowance prescribed in Clause 1, Article 22 of this Law.
Referring to the provisions of Article 67 of the Law on Social Insurance 2024 as follows:
Pension adjustment
1. Pensions are adjusted based on the increase in the consumer price index in accordance with the capacity of the state budget and the social insurance fund.
2. Adjust the pension increase appropriately for those with low pensions and those who retired before 1995 to ensure narrowing the pension gap between retirees in different periods.
3. The Government shall prescribe the time, subjects, and pension adjustment levels prescribed in this Article.
According to Clause 1, Article 23, Vietnamese citizens who are of retirement age and have paid social insurance but are not eligible for pension benefits according to the provisions of law and are not eligible for social pension benefits according to the provisions of Article 21 of this Law, if they do not receive one-time social insurance and do not reserve but have a request, they will receive monthly allowances from their own contributions according to the provisions of Clause 2 of this Article (the duration of the allowance, the monthly allowance level is determined based on the payment period, the basis of social insurance payment of the employee).
