Recently, Lao Dong Newspaper has received many questions from readers regarding whether to receive one-time social insurance or pension after paying social insurance for 15 years. This is closely related to the rights of workers.
According to the provisions of the Social Insurance Law 2014, effective until June 30, 2025, people who have paid social insurance for less than 20 years will receive one-time social insurance. Those who have paid social insurance for 20 years or more, if they are not eligible to go abroad to settle, or have suffered from life-threatening serious diseases such as cancer, paralysis, impetigo, leprosy, severe tuberculosis, HIV infection, have passed the AIDS stage and other diseases according to the regulations of the Ministry of Health, must wait until retirement age to receive a monthly pension.
However, from July 1, 2025, when the Social Insurance Law 2024 takes effect, there will be major changes in benefits for people who have participated in social insurance for 15 years or more.
According to Article 64 of the Social Insurance Law 2024, a person who has paid compulsory social insurance for 15 years or more must meet the conditions for the number of years of social insurance contributions to receive a monthly pension. This is a regulation that is considered very beneficial for employees compared to the Social Insurance Law 2014.
Lawyer Tran Phi Dai, Ho Chi Minh City Bar Association, analyzed: When receiving one-time social insurance, you will suffer a much greater disadvantage than receiving a monthly pension. Because, first of all, people with monthly pensions will not become a burden to their families and society.
In addition, the pension will be adjusted on the basis of the increase in the consumer price index in accordance with the capacity of the state budget and social insurance fund. In fact, for many years, the State has repeatedly adjusted pension along with the basic salary adjustment period. Thereby, the pension beneficiary also benefits from this adjustment. And, Article 67 of the Law on Social Insurance 2024 also continues to recognize the adjustment of pension.
In addition, those who receive a monthly pension will also receive health insurance from the Health Insurance Fund and will receive up to 95% of medical examination and treatment costs and only have to co-pay 5% of medical examination and treatment costs.
"In short, those who have paid social insurance for 15 years should not receive one-time social insurance at this time but should wait another two months (until July 1, 2025) to receive a monthly pension," Lawyer Dai recommended.
