Circular detailing the time of pension payment, calculation, and determination of benefits for each case to resolve pension regimes as prescribed in Clause 4, Article 101 of the Law on Social Insurance.
Accordingly, Article 3 stipulates the pension receiving time for voluntary social insurance participants according to the provisions of Article 101 of the Law on Social Insurance. The detailed regulations are as follows:
- The pension period for voluntary social insurance participants with a social insurance payment period of 15 years or more is calculated from the first day of the month following the month of retirement age as prescribed in Clause 2, Article 169 of the Labor Code.
- In case the social insurance participant continues to pay voluntary social insurance after being eligible for pension, the pension payment time is the first day of the month following the month of suspension and a pension request is made.
- In case the participants of social insurance voluntarily pay once for the missing years in accordance with the provisions of Point e, Clause 2, Article 36 of the Law on Social Insurance, the time to enjoy the pension as prescribed in Article 98 of the Law on Social Insurance is the first day of the month after the month after the full amount of money for the missing years.
- The pension for voluntary social insurance participants before January 1, 2021 and 20 years or more of voluntary social insurance contributions are calculated from the first day of the month following the month of 60 years old for men and 55 years old for women, except in cases where voluntary social insurance participants wish to receive pensions according to the provisions of Article 98 of the Law on Social Insurance.
- In case the pension payment period as prescribed in Clauses 1, 2, 3 and Clause 4 of this Article is determined before July 1, 2025, the pension payment period will be from July 1, 2025.
- In case of failure to determine the date and month of birth (only year of birth), the time of pension entitlement is calculated from the first day of the month adjacent to the month after the month eligible to enjoy the pension as prescribed. In particular, the month of retirement age is determined on the basis of taking the 1.1 of the year of birth as a basis for determining the age of workers.
