The Government has issued Decree No. 162/2026/ND-CP on adjusting pensions, social insurance (SI) allowances and monthly allowances.
Accordingly, from July 1, adjusting to increase by an additional 8% on the pension level, social insurance allowance and monthly allowance of June 2026.
After increasing by 8%, the group receiving pensions, social insurance allowances, and monthly allowances before January 1, 1995 with a benefit level lower than 3.8 million VND/month will continue to be adjusted in 2 directions.
First, increase by 300,000 VND/person/month for those with a benefit level equal to or lower than 3.5 million VND/person/month.
Second, increase to 3.8 million VND/person/month for those with a benefit level higher than 3.5 million VND/person/month but lower than 3.8 million VND/person/month.
The level of pension, social insurance allowance, and monthly allowance after the above adjustment is the basis for calculating the adjustment of pensions, social insurance allowances, and monthly allowances in subsequent adjustments.
This Decree adjusts the level of pensions, social insurance allowances and monthly allowances for beneficiaries before July 1, including 9 groups specified.
Mr. Pham Truong Giang - Director of the Department of Salaries and Social Insurance (Ministry of Home Affairs), said that according to international practice, pension adjustments in most countries are mainly aimed at compensating for price increases.
However, in Vietnam, thanks to the attention of the Party and the State, pension adjustments are often implemented at the rate of salary increases, including price increases and sharing a part of economic growth achievements.
He said that currently the scope of subject adjustment is very broad, including pensioners, monthly allowances and many other allowances. The number of pensioners currently is estimated at more than 3 million people, with an average benefit level of about 7.2 million VND/person/month. With an increase of 8%, the average benefit level is expected to increase to about 7.6 million VND/month.
According to Mr. Pham Truong Giang, besides adjusting the pension increase by 8% in general, the Party and State are also very interested in the group of people who retired before 1995 with low pensions. In the past, there have been 3 times, after adjusting the general pension, continuing to implement further adjustments for this low-entitlement group.
In Decree 162, people with pensions after adjustment below 3.8 million VND/month will continue to be adjusted up to 3.8 million VND/month, divided into 2 groups.
People with a benefit level below 3.5 million VND/month will receive an additional increase of 300,000 VND/month. People with a benefit level from over 3.5 million VND to under 3.8 million VND/month will be raised to exactly 3.8 million VND/month.
Director Pham Truong Giang emphasized: "This is recognition as well as a demonstration of the Party and State's concern for those who receive low pensions, especially the group who retired before 1995, thereby helping to significantly improve the pension level of this group".
