According to Vietnamese social insurance, workers who have enough retirement age and pay social insurance for full 15 years or more will receive a monthly pension and be granted a free health insurance card for health care during the pension.
This provision is applied to those who have participated in social insurance from the date of the revised social insurance law.
Pay for 15 years of social insurance to enjoy pension
The Law on Social Insurance 2024 stipulates that the employee is retired when the retirement age has time to pay social insurance for full 15 years or more to enjoy the monthly pension. This provision is to create opportunities for those who start social insurance late or participate in continuously have the opportunity to accumulate 15 years of payment (instead of 20 years as prescribed in the Law on Social Insurance 2014) to enjoy monthly pension instead of receiving one -time social insurance.
In case the employee has a social insurance period for more than 15 years, he / she is entitled to a pension with a higher benefit rate due to long -term social insurance payment. Specifically, in terms of monthly pension, for female workers equal to 45%of the average salary as a basis for social insurance premiums, the corresponding to 15 years of social insurance payment, then add each year to pay an additional 2%, the maximum equal to 75%.
For male workers equal to 45%of the salary average level as a basis for social insurance payment, the corresponding to 20 years of social insurance payment, then each year pay, the additional 2%, the maximum level is 75%. In case the male labor has the time to pay social insurance from full 15 years to less than 20 years, the monthly pension is equal to 40% of the average salary as a basis for social insurance payment, then adding each year to pay an additional 1%.
On the other hand, this provision of the amended Law on Social Insurance is still attractive, encouraging employees to maintain the time of social insurance payment to enjoy pensions, contributing to reducing the number of people withdrawing social insurance once. Since then, creating opportunities for all workers when the working age will have a stable source of income from pension and have free health insurance cards for health care.
Pay social insurance less than 15 years, what should workers do?
Firstly, in case the employee is not eligible for retirement (less than 15 years of social insurance premium), he will continue to participate in social insurance to have the opportunity to enjoy higher benefits such as:
- When continuing to participate in social insurance, workers are entitled to the regimes with higher levels of entitlement because the regimes are calculated according to the time of payment such as sickness regime, labor accidents, occupational diseases ...
- Enjoy pension with easier conditions (in terms of minimum number of years to enjoy pension is 15 years instead of 20 years as current regulations);
- During the pension period, beneficiaries will also receive health insurance from the Social Insurance Fund, pay medical examination and treatment fees to take care of their health when they are old.
Secondly, in case the participants of social insurance have enough retirement age (but less than 15 years of social insurance to enjoy pension) and not old enough to enjoy social retirement allowances, if they do not receive one -time social insurance and do not reserve the time they have paid social insurance but required, they are entitled to the following regime as follows:
- Enjoy monthly allowance from its own social insurance premium. The time of enjoyment, the monthly benefit level is determined based on the time of payment and salary as a basis for social insurance payment of workers. The lowest monthly allowance is equal to the social retirement allowance.
- During the period of receiving monthly allowances, beneficiaries are entitled to state budget health insurance contributions; when they die, relatives are entitled to a one-time allowance for the months not yet received and a funeral allowance if they meet the prescribed conditions.
