Through the regulation of reducing the minimum number of years of social insurance contributions to receive pension from 20 years to 15 years, the Social Insurance Law 2024 has created opportunities for those who start participating in social insurance late (those who start participating at 45-47 years old);
Or if you participate intermittently or do a specific job with a short working time (when you reach retirement age, you still have not accumulated enough 20 years of social insurance contributions), you also have the opportunity to receive a monthly pension and health insurance during the entire pension period.
Ms. Tran Thi Nga (37 years old, Thanh Hoa) - a garment worker, said that she has only continued to participate in social insurance for 4 years.
Previously, the female worker had a period of paying social insurance, but when the COVID-19 pandemic broke out, Ms. Nga lost her job and returned to her hometown. At that time, there was a shortage of everything, so she decided to withdraw her social insurance at once.
From July 1, 2025, when the new Social Insurance Law takes effect, Ms. Nga will have more opportunities to receive a pension when she only needs to pay social insurance for 15 years.
"If I pay enough social insurance for 15 years, I will be nearly 50 years old, not yet eligible for retirement age to receive pension benefits, but I can still continue to participate in voluntary social insurance if I am unemployed," said Ms. Nga, adding that reducing the number of years of social insurance payment helps middle-aged workers who pay late to still receive pensions; at the same time, reducing the situation of withdrawing social insurance at one time, helping her not spend too much money and time paying voluntary social insurance to receive pensions.
Ms. Nga also said that, in addition to reducing the number of years of social insurance contributions from 20 years to 15 years, workers directly involved in production like her really want to reduce the retirement age.
The female worker analyzed that the current conditions for receiving pensions must meet the retirement age and the number of years of social insurance contributions. According to Ms. Nga: "The current retirement age is quite high compared to direct workers, I wish the retirement age of workers was only 55-57 years old" - Ms. Nga said.
According to the Social Insurance Law 2024, reducing the minimum number of years of social insurance contributions to receive pension from 20 years to 15 years also stipulates:
For employees with a longer social insurance payment period, they will still receive a pension with a higher pension rate unchanged compared to current regulations.
The 2024 Social Insurance Law stipulates the pension rate for male and female workers with 15 years of social insurance contributions, with the maximum rate remaining at 75%. Specifically: Male workers with 15 to less than 20 years of social insurance contributions: 15 years of contributions correspond to 40%, each additional year of contributions increases by 1%, 20 years of contributions correspond to 45%;
Female workers pay social insurance for 15 years, equivalent to 45%.
After that, each additional year of contribution will be added 2%.
In addition, the 2024 Social Insurance Law also stipulates the subjects and conditions for receiving pensions when the ability to work is reduced.
