Youme Law Firm LLC said that the Social Insurance Law 2024 will take effect from July 1, 2025. According to Article 67 and Clause 2, Article 99 of this law, the pension of employees will continue to be adjusted based on the increase in the consumer price index, in accordance with the capacity of the State budget and the social insurance fund.
Appropriate pension increases will be made for those with low pensions and those who retired before 1995.
Previously, from July 1, 2024, people receiving pensions, social insurance benefits, and monthly allowances according to regulations have had their pensions increased for the second time. After adjusting an additional 15% increase on pensions, social insurance benefits, and monthly allowances, people with a level of benefits lower than VND 3.5 million/month will be adjusted to increase according to Decree 75/2024/ND-CP of the Government. Specifically as follows:
- For those with a benefit level of less than 3.2 million VND/person/month: Increase by 300,000 VND/person/month.
- For those with a benefit level from 3.2 million VND/person/month to less than 3.5 million VND/person/month: Increase to 3.5 million VND/person/month.
After adjustment according to the above regulations, this pension, social insurance allowance, and monthly allowance level will be used as the basis for calculating adjustments to pension, social insurance allowance, and monthly allowance in subsequent adjustments.
Thus, the group of subjects that will have their pensions adjusted for the third time from July 1, 2025 are those with low pensions and retired before 1995.
