Only need to have 15 years of social insurance contribution
According to Article 64 of the Social Insurance Law (BHXH) 2024, employees who retire if they have had 15 years or more of compulsory social insurance contributions and reach retirement age as prescribed will be entitled to a pension.
This regulation applies to the majority of workers working in normal conditions as well as many other groups of workers according to the Law. This is a legal right of workers after participating in and paying social insurance for a long time, in order to ensure life when they are no longer able to work.
Pensions are paid until the beneficiary dies
The pension regime includes two stages: the contribution stage and the enjoyment stage. The contribution stage takes place during the time the employee works and participates in social insurance; while the enjoyment stage starts when the employee retires and lasts until that person dies.
According to the provisions of the 2024 Law on Social Insurance and Decree 135/2020/ND-CP, pensioners will:
Receive a lifetime monthly pension
Free health insurance card is issued
Enjoying regimes and policies for retirees
When will pension enjoyment be stopped?
According to Article 75 of the 2024 Law on Social Insurance, pension enjoyment is only terminated when one of the following cases occurs:
The beneficiary died or was declared dead by the court.
Voluntary pensioners refuse to receive pensions in writing
Being concluded to enjoy social insurance in violation of regulations
In addition to these cases, there are no limits on the number of years of pension benefits.
Thus, there is no limit on the number of years of retirement benefits for employees. Employees will receive monthly pensions until they are no longer available (except for cases of suspension of allowances or termination according to regulations).
