The Government has issued Decree No. 85/2026/ND-CP on supplementary pension insurance, officially taking effect from May 10, 2026.
According to regulations, the supplementary pension insurance program is jointly implemented by enterprises and fund management units. The fund management enterprise is the licensed unit that manages and invests in the contributions of employees and employers.
Notably, the participants are employees and employers who have participated in compulsory social insurance. However, participation is completely voluntary, not a mandatory condition when recruiting or signing labor contracts. Businesses are also not allowed to associate participation with emulation, commendation or benefits to avoid putting pressure on employees.
The additional pension insurance contribution level is agreed upon by both parties, based on the financial conditions and needs of each enterprise. Contents such as contribution level, benefit conditions, participation time... will be clearly stated in the written agreement between the employee and the employer.
According to Decree 85/2026/ND-CP, employees participating in the program will enjoy benefits from the supplementary pension fund when they meet the conditions or fall into one of the following cases:
Worker dies;
People suffering from dangerous diseases such as cancer, polio, irreversible cirrhosis, severe tuberculosis, AIDS;
People with a working capacity reduction rate of 81% or more or people with particularly severe disabilities;
Workers who are foreign citizens who do not continue to reside in Vietnam or whose work permit or practice expires without being renewed.
In addition to the above cases, the enjoyment of benefits also depends on the specific conditions previously agreed upon between the employee and the business. In case the business stipulates a minimum working time to enjoy benefits, this time must not exceed 5 years.
The implementation of supplementary pension insurance is expected to help workers be more proactive in long-term financial accumulation, reducing dependence on a single source of income when retiring.
