Calculation of Monthly Pension in Accordance with the New Regulations

Legal Advice Office of Labor Newspaper replies:

Article 66 of the Social Insurance Law 2024 (effective from 1.7.2025) stipulates the monthly lương hưu as follows:

1. The monthly pension of eligible individuals specified in Article 64 of this Law is calculated as follows:

a) For female laborers, it is 45% of the average monthly salary used as the basis for social insurance contributions specified in Article 72 of this Law, corresponding to 15 years of social insurance contributions. For each additional year of contributions, an additional 2% is calculated, with a maximum of 75%.

b) For male laborers, it is 45% of the average monthly salary used as the basis for social insurance contributions specified in Article 72 of this Law, corresponding to 20 years of social insurance contributions. For each additional year of contributions, an additional 2% is calculated, with a maximum of 75%.

For male laborers with 15 to under 20 years of social insurance contributions, the monthly pension is 40% of the average monthly salary used as the basis for social insurance contributions specified in Article 72 of this Law, corresponding to 15 years of social insurance contributions. For each additional year of contributions, an additional 1% is calculated.

2. The monthly pension of eligible individuals who are laborers in certain professions or occupations in the armed forces, as specified by the Government, is sourced from the state budget.

3. The monthly pension of eligible individuals specified in Article 65 of this Law is calculated in accordance with the provisions of Clause 1 of this Article, and for each year of early retirement, a 2% reduction is applied.

For cases where the early retirement period is less than 06 months, no reduction in the percentage of pension is applied. For periods of 06 months to under 12 months, a 1% reduction is applied.

4. The calculation of the monthly pension of eligible laborers who have social insurance contributions in accordance with the provisions of international treaties to which the Socialist Republic of Vietnam is a signatory but have less than 15 years of social insurance contributions in Vietnam is as follows: each year of contributions is calculated at 2.25% of the average monthly salary used as the basis for social insurance contributions specified in Article 72 of this Law.

5. The Government shall provide detailed regulations on pension entitlement and conditions.

Thus, from 1.7.2025, the monthly lương hưu is stipulated as above.