Mr. Ngo Van Thanh (Hoai Duc, Hanoi) asked: I have paid compulsory social insurance for 18 years and 7 months. I intend to quit my job and will not withdraw my social insurance at one time. So when will I receive my monthly pension?
Hanoi Social Insurance advises:
According to the provisions of the Law on Social Insurance 2014, employees are entitled to pension when they have paid social insurance for 20 years or more and meet the retirement age requirements.
The retirement age is stipulated in Decree No. 135/2020/ND-CP dated November 18, 2020 of the Government. From January 1, 2021, the retirement age for women is 55 years and 4 months, increasing by 4 months each year until reaching 60 years old in 2035. Meanwhile, the retirement age for men is 60 years and 3 months, increasing by 3 months each year until reaching 62 years old in 2028.
However, according to the Law on Social Insurance (amended) recently passed by the National Assembly and effective from July 1, 2025, the minimum period of social insurance participation to receive pension will be stipulated as 15 years.
Thus, according to the new regulations, readers will have enough time to pay social insurance to receive pension after July 1, 2025 if they reach the retirement age according to the provisions of Decree No. 135/2020/ND-CP.
