Pensions may be adjusted up in 2026
Pension adjustment is not fixed annually, but is implemented according to the mechanism decided by the Government on the basis of the social insurance fund and the consumer price index.
According to Article 67 of the Law on Social Insurance 2024 (effective from July 1, 2025) on the principle of pension adjustment as follows: The State adjusts pensions and monthly social insurance benefits on the basis of: Increase in consumer price index (CPI), appropriate economic growth, and capacity of the social insurance fund. The adjustment is specifically regulated by the Government for each period (Clause 2, Article 57).
It can be seen that the Social Insurance Law does not stipulate that pensions will certainly increase in 2026, but assigns the Government to issue a Decree to adjust depending on the actual situation. Article 67 of the Social Insurance Law 2024 is still the legal basis for pension adjustment for the years after 2025, including 2026.
In addition, according to Article 3 of Resolution 245/2025/QH15, which stipulates the implementation of salary policies and social policies, it refers to the following content: Continue to create sources for salary reform, expand the scope of salary reform: Use the central budget's salary reform accumulation to adjust pensions, social insurance benefits, monthly allowances, preferential allowances for meritorious people and streamline the payroll.
Clause 10, Article 2 of Resolution 246/2025/QH15 regulating the allocation of the central budget in 2026 refers to allocating resources to implement adjustments: Salary, pension, social insurance allowance, monthly allowance, preferential allowance for meritorious people. Some social policies according to the plan are decided by competent authorities.
It can be seen that the central budget will prioritize resources to adjust pensions and social insurance benefits in 2026. Thus, pensions may be adjusted up in 2026.
Pensions are constantly being adjusted
According to data from the social insurance agency, there are currently about 3.4 million people nationwide receiving pensions and social insurance benefits. The annual pension level is always a special concern for those who are eligible for pension benefits.
Recently, the pension level of retirees has been continuously increased, based on the increase in the consumer price index and economic growth in accordance with the state budget and the Social Insurance Fund.
Since 1995, the State has adjusted pensions 24 times to ensure the lives of retirees.
Especially in 2022, although the country's economic situation is facing difficulties due to the impact of the COVID-19 epidemic, pensions have been adjusted to a general level of 7.4% from January 1, 2022. For those who retired before January 1, 1995 but after adjustment according to the general level, if their monthly pension and social insurance allowance are below VND 2,500,000/month, they will continue to be adjusted.
In 10 years alone (2013-2023), the average pension increase is more than 8.43% per adjustment, higher than the increase in the consumer price index in the same period.
In the 2016-2021 period, an average of about 110,000 people will receive new pensions/year. Of which, 435,000 people are entitled to a one-time pension upon retirement (accounting for 65.8%). Thus, for every 3 retirees, about 2 people have a maximum pension rate of 75% of the average monthly salary for social insurance contributions.
Most recently, from July 1, 2024, the Government issued a decree to adjust and increase pensions, social insurance benefits and monthly allowances by 15%. This adjustment level is twice the average increase in the period 2013-2023.
In addition, for those who are receiving pensions, social insurance benefits, and monthly allowances before January 1, 1995, after adjustment, the benefit level will be lower than 3.5 million VND/month, then adjusted to increase.
Accordingly, pensions will increase by VND 300,000/person/month for those with a pension level below VND 3.2 million/person/month; increase by VND 3.5 million/person/month for those with a pension level from VND 3.2 million/person/month to less than VND 3.5 million/person/month.
