According to Ho Chi Minh City Social Insurance, Article 23 of the Social Insurance Law 2024 (effective from July 1, 2025) stipulates the regime for employees who are not eligible for pension and are not old enough to receive social retirement benefits as follows:
1. Vietnamese citizens who are of retirement age and have paid social insurance but are not eligible for pension as prescribed by law and are not eligible for social retirement benefits as prescribed in Article 21 of this Law, if they do not receive a lump sum social insurance payment and do not reserve it and upon request, shall receive a monthly allowance from their own contributions as prescribed in Clause 2 of this Article.
2. The duration and level of monthly benefits are determined based on the employee's social insurance payment period and basis.
3. The lowest monthly allowance is equal to the monthly social pension allowance prescribed in Clause 1, Article 22 of this Law.
In case the total amount calculated according to the payment period and the basis for social insurance payment of the employee is higher than the amount calculated for the monthly allowance equal to the social pension allowance at the time of settlement for the period from retirement age to social pension age, the employee will be calculated to receive a monthly allowance at the higher level.
In case the total amount calculated based on the payment period and the basis for social insurance payment is not enough for the employee to receive monthly benefits until reaching the age of receiving social pension benefits, if the employee wishes, he/she can make a one-time payment for the remaining amount to receive until reaching the age of receiving social pension benefits.
4. The monthly allowance level prescribed in Clause 3 of this Article shall be subject to adjustment according to the provisions of Article 67 of this Law.
5. In case a person receiving monthly allowance dies, relatives are entitled to a one-time allowance for the months not yet received and a one-time funeral allowance if they meet the conditions specified in Point a, Clause 1, Article 85 or Point a, Clause 1, Article 109 of this Law.
6. People who are receiving monthly benefits will have their health insurance paid for by the State budget.
“This is a very beneficial regulation for employees who have paid social insurance but do not receive one-time social insurance. Therefore, employees should consider carefully when receiving one-time social insurance to avoid future disadvantages,” Ho Chi Minh City Social Insurance recommends.
