How does the pension of female workers differ when paying social insurance for 20 years or 30 years

The Legal Consulting Department of Lao Dong Newspaper answers: Point a, Clause 1, Article 66 of the 2024 Law on Social Insurance stipulates the monthly pension benefit rate for female workers who are eligible for pension benefits as follows: Female workers who have contributed to social insurance for 15 years are calculated as 45% of the average salary as the basis for social insurance contributions, then for each additional year of social insurance contributions, an additional 2% is calculated, the maximum level is 75%.

Based on the above regulations, if female workers have paid social insurance for 20 years, they will receive the monthly pension benefit percentage as follows: 45% + 2% x (20 -15) = 55. For female workers who have paid social insurance for 30 years, they will receive the monthly pension benefit percentage as follows: 45% + 2% x (30 -15) = 75%.

Thus, the monthly pension percentage difference between female workers paying social insurance for 30 years and 20 years is 75% - 55% = 20%.

Suppose, a female worker has an average salary as a basis for social insurance contributions of 10 million VND/month, then the difference in pension enjoyed by a female worker paying social insurance for 30 years and a female worker paying social insurance for 20 years is equal to 20% x 10 million VND/month = 2 million VND/month.