Article 67 of the Law on Social Insurance 2024 provides 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 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 levels of pension adjustment prescribed in this Article.
Accordingly, when the Social Insurance Law 2024 takes effect from July 1, 2025, the new pension policy will adjust pension increases based on the increase in the consumer price index in accordance with the capacity of the state budget and social insurance fund.
However, not everyone will have their pension increased from 1.7.2025, but there will be a limit on the number of people who will be increased. The conditions for a pension increase are:
- Have low pension
- Retired before 1995
The above pension increase adjustment aims to narrow the pension gap between retirees of different periods.
There is currently no document regulating the increase. The increase will depend on the Government's decision.
