Article 67 of the Law on Social Insurance 2024 (effective from July 1, 2025) stipulates 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 Article 99 of the Law on Social Insurance 2024, for voluntary social insurance participants, pensions will be adjusted according to the provisions of Article 67 of the Law on Social Insurance 2024.
At the same time, according to Article 7 of the Law on Social Insurance 2024, it is stipulated as follows:
Reference level
1. The reference level is the amount of money decided by the Government to calculate the contribution level and the level of enjoyment of some social insurance regimes prescribed in this Law.
2. The reference level is adjusted based on the increase in the consumer price index, economic growth, in accordance with the capacity of the state budget and the social insurance fund.
Clauses 11 and 13, Article 141 of the Law on Social Insurance 2024 clearly state the transitional provisions as follows:
Transitional regulations
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11. Subjects specified in Points a, b, c, d, d, g and i, Clause 1, Article 2 of this Law who have participated in social insurance before the effective date of this Law and have paid compulsory social insurance for 20 years or more shall have the lowest monthly pension equal to the reference level.
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13. When the basic salary has not been abolished, the reference level prescribed in this Law shall be equal to the basic salary. At the time the basic salary is abolished, the reference level shall not be lower than that basic salary.
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According to Clause 5, Article 56 of the current Law on Social Insurance 2014, the lowest monthly pension for employees participating in compulsory social insurance eligible for pension according to the provisions of Articles 54 and 55 of this Law is equal to the basic salary, except for the cases specified in Point i, Clause 1, Article 2 and Clause 3, Article 54 of this Law.
