According to Clause 1, Article 66 of the Law on Social Insurance 2024, the monthly pension of teachers eligible for pension is calculated as follows:
For female workers: equal to 45% of the average salary used as the basis for social insurance contributions corresponding to 15 years of social insurance contributions, then for each additional year of contributions, an additional 2% is calculated, with a maximum of 75%;
For male workers: equal to 45% of the average salary used as the basis for social insurance contributions corresponding to 20 years of social insurance contributions, then for each additional year of contributions, an additional 2% is calculated, with a maximum of 75%.
In case male workers have paid social insurance for 15 years to less than 20 years, the monthly pension is equal to 40% of the average salary used as the basis for social insurance payment corresponding to 15 years of social insurance payment, then for each additional year of payment, an additional 1% will be calculated.
In particular, the average salary used as the basis for social insurance contributions to calculate pensions is specifically regulated as follows:
(1) Employees subject to the salary regime prescribed by the State who have the entire period of social insurance payment under this salary regime shall have their average salary calculated as the basis for social insurance payment for the number of years of social insurance payment before retirement as follows:
Starting to participate in social insurance before January 1, 1995, the average salary will be calculated as the basis for social insurance contributions for the last 5 years before retirement;
Starting to participate in social insurance from January 1, 1995 to December 31, 2000, the average salary will be calculated as the basis for social insurance contributions for the last 6 years before retirement;
Starting to participate in social insurance from January 1, 2001 to December 31, 2006, the average salary will be calculated as the basis for social insurance contributions for the last 8 years before retirement;
Starting to participate in social insurance from January 1, 2007 to December 31, 2015, the average salary will be calculated as the basis for social insurance contributions for the last 10 years before retirement;
Starting to participate in social insurance from January 1, 2016 to December 31, 2019, the average salary will be calculated as the basis for social insurance payment for the last 15 years before retirement;
Starting to participate in social insurance from January 1, 2020 to December 31, 2024, the average salary will be calculated as the basis for social insurance payment for the last 20 years before retirement;
Starting to participate in social insurance from January 1, 2025 onwards, the average salary will be calculated as the basis for social insurance payment for the entire period of social insurance payment.
(2) Employees whose entire period of social insurance payment is according to the salary regime decided by the employer shall have their average salary calculated as the basis for social insurance payment for the entire period.
(3) Employees who have paid social insurance under the salary regime prescribed by the State and have paid social insurance under the salary regime decided by the employer will have their average salary calculated as the basis for paying social insurance for all periods, in which the payment period under the salary regime prescribed by the State will be calculated as the average salary used as the basis for paying social insurance according to the provisions of Article 1.
