Elderly people want to increase their minimum pension by 15%

Mr. Pham Thanh Van (78 years old, Nam Dinh) said that without the support of the war invalids allowance, with the current pension of more than 3 million VND, it would be very difficult to ensure daily living for himself and his dependents.

“Currently, I receive a total of more than 5 million VND, but only more than 3 million VND is my pension. With this 5 million VND, my wife and I still have to spend sparingly so as not to lose it or bother our children,” said Mr. Van.

The most expensive expenses for the couple in their old age, shared by Mr. Van, include more than 1.5 million VND/month for medicine for both of them, and 1 million VND for ceremonies and banquets. The remaining 2.5 million VND, he continues to spend 500,000 VND on electricity, water, tea, cakes, and clothes. Thus, the monthly food expenses for the couple are only 2 million VND.

The reason Mr. Van wants the upcoming adjustment period to increase by at least 15% is because he himself previously contributed a lot of effort in the State agency but when he retired, he received a rather low pension. Mr. Van believes that it is unfair for working people with high incomes to receive a higher increase than retirees.

Another reason Mr. Van shared is that market prices have increased quite a bit compared to the beginning of the year. Next year, Mr. Van is concerned that prices may increase by at least another 10%.

“Last year, each meal my wife and I only needed 30,000 to 35,000 VND, but now we need at least 50,000 VND. Meat, eggs, vegetables, rice, and when we eat a lot of meat, it can cost up to hundreds of dollars,” said Mr. Van.

Having just retired at the beginning of this year, Mr. Pham The Minh (62 years old, Nam Dinh) said that with his current pension of 3.1 million VND, he still has to work extra to cover the daily living expenses for the couple.

“Even though I am retired, I still take on extra work looking after and cleaning the yard and garden for a private company near my house. If I don’t do this, it will be difficult to live because my pension is only over 3 million VND,” Mr. Minh confided.

Sharing with Lao Dong, Mr. Minh said that his 3.1 million VND pension is only enough for food and milk for the couple every day. If he does not go to work, he will have to spend money on food or children's illness, and he cannot bear to do so.

With his current income, Mr. Minh has an additional 3.5 million VND so he doesn’t need to rely on his children. However, Mr. Minh is worried that he won’t be able to do this job for long because his eyesight is getting worse and his limbs are not as agile as before.

That is also the reason why Mr. Minh always wants his pension to increase annually by at least 15% to feel secure when he retires.

“I will probably only work for about 3 more years before I retire. If each year increases by at least 15%, then in the next 3 years, my pension will be 5 million VND. That way I can enjoy my old age with peace of mind,” said Mr. Minh.