In the past 10 years, pensions and social insurance allowances have undergone 7 adjustments, thereby increasing more than double compared to before. From the lowest level of about 1.75 million VND/month in 2016, it is expected that by July 1st, this level will reach about 3.8 million VND/month.
From 2016 to now, pension adjustments have been implemented almost regularly every year, with an increase ranging from about 6% to more than 20% depending on the time and target group.
Specifically, in 2016, pensions increased by 8%. The following years continued to record increases of 7.44% (2017), 6.92% (2018) and 7.19% (2019) respectively.
After a period of interruption due to the epidemic, in 2022, pensions continued to be adjusted to increase by 7.4%. By 2023, the increase was higher, from 12.5% to 20.8% depending on the target group. Most recently, from July 1, 2024, pensions were increased by an additional 15%.
A noteworthy point in the adjustments is that the policy always aims to support people with low pensions.
In addition to the increase according to the general ratio, many phases also add an additional amount in cash to ensure the minimum benefit level. For example, people with pensions below certain thresholds will be raised to the floor level such as 2 million VND, 2.5 million VND, 3 million VND or 3.5 million VND depending on the period.
This policy contributes to narrowing the gap between people with low and high pensions, while improving the lives of long-term retirees.
Currently, the Ministry of Home Affairs is seeking opinions on the draft pension adjustment from July 1, 2026.
According to the proposal, there are two options proposed: one is to increase by about 4.5% with fixed money for some groups, and two is to increase simultaneously by about 8% for all subjects.
Notably, for those who retired before 1995 and have low benefits, after adjustment, they will still be supported to reach a minimum level of about 3.8 million VND/month.
