Vietnam Social Security (BHXH) emphasized that one of the breakthrough reforms of the 2024 Law on Social Insurance is the reduction of the minimum number of years of social insurance contribution to receive pensions from 20 years to 15 years.
This change is not simply a number, but a real opportunity for late social insurance participants (such as those who start working at the age of 45 to 50) or employees with non-continuous contributions who can still enjoy retirement benefits.
Instead of having to receive one-time social insurance and face old age without stable income, they can now maintain their contributions to receive monthly pensions and be issued health insurance cards with a higher benefit level.
According to statistics from Vietnam Social Security in early May 2026, the number of people enjoying one-time social insurance benefits nationwide decreased by 21.7% compared to the same period. This is a positive sign in keeping workers in the social security system.
Vietnam Social Security also said that currently there are 3.5 million people nationwide receiving monthly pensions.
By the end of 2025, the number of social insurance participants reached 21.53 million people, an increase of 6.80 million people compared to 2018, equivalent to an increase of 46.14%. The proportion of the working force of working age participating in social insurance reached 45.11%, an increase of 14.86% compared to 2018.
It is known that according to a recent report by Vietnam Social Security, the number of people receiving pensions over 20 million VND/month is 11,560 people. Detailed number of pensioners according to the benefit level is as follows:
Vietnam Social Security also said that the 2024 Social Insurance Law has officially supplemented the social pension allowance layer. A major step forward in building a multi-layered social security system.
According to new regulations, Vietnamese citizens from 75 years old or older (or from 70 to under 75 years old for poor and near-poor households) who do not have a pension or monthly social insurance allowance will be entitled to social pension benefits from the state budget.
The allowance level is determined to start at 500,000 VND/month. In particular, these people are also covered by the state budget for health insurance and are supported with funeral expenses upon death.
A particularly humane point lies in the transitional regime: For employees who have paid social insurance but are not eligible for pensions and are not old enough to receive social pension benefits, they have the right to choose to receive monthly allowances from their own contributions during the waiting period. This ensures the continuity of the "social security net", not allowing anyone to fall into policy gaps when they are old.
The new law has significantly expanded the subjects of compulsory social insurance participation, aiming to cover the entire labor force with stable income. Specifically, business households with official business registration become compulsory participants.
This helps millions of household heads who are the economic pillars of the family have the opportunity to access pensions and maternity and sickness benefits.
In addition, business managers and cooperative operators, even if they do not receive salaries from the unit, are also subject to participation.
This regulation aims to ensure that all individuals holding economic leadership roles are protected in terms of long-term social security benefits.
In particular, the new policy also targets workers working part-time.
As long as they have a salary level from the reference level or higher, they will be identified as compulsory. This change not only eliminates the distinction between formal and flexible labor, but also prevents employers from taking advantage of part-time work to "evade" social insurance contributions.
Towards a modern and professional social insurance system, the 2024 Social Insurance Law has stipulated promoting electronic transactions and data digitization. Electronic social insurance books will be widely deployed, gradually replacing paper books.
Participants can easily track the contribution - benefit process, receive monthly periodic notifications via electronic means and request information confirmation with just a few operations on the phone.
Simplifying administrative procedures and reducing paperwork not only saves time for people but also enhances publicity and transparency, preventing fraud or embezzlement of benefits.
