Schedule for payment of pensions and social insurance benefits in Hanoi from July 1
From July 1, 2025, Hanoi will operate a two-tier government model. However, the Social Insurance Agency affirmed that the payment of pensions and social insurance benefits will still take place on schedule, without interruption.
Entering the pension payment period of July 2025, many elderly people are waiting for their salary to be transferred to their accounts. Mr. Khanh (65 years old, residing in Thanh Xuan, Hanoi) said that the pension of more than 11 million VND per month is the main source of income for his family to cover living expenses.
Ms. Duong Thi Minh Chau - Head of the Department of Propaganda and Support for Social Insurance Participants in Region I (Hanoi) said that pensions and social insurance benefits for July will be transferred on the 2nd of each month via bank accounts (ATM). If the 2nd falls on a holiday, the money will be paid on the next nearest working day.
Regarding Hanoi starting to operate a two-tier government model from July 1, Ms. Chau affirmed that this will not affect the pension payment schedule or the management of the social insurance sector.
The Social Insurance Agency of Region I plans to spend about VND4,000 billion to pay pensions and subsidies to 595,000 people this July. Of these, more than 99% will receive payments via ATM accounts. Nearly 6,000 remaining cases will still receive cash, which will be coordinated through the postal system after July 2.
As of the end of May 2025, according to statistics from the Vietnam Social Security, the country has more than 3.41 million people receiving monthly pensions and social insurance benefits, with about 81% receiving them through banks. Therefore, the merger of administrative units and the operation of two-level government will not disrupt the payment system next July.
Previously, Prime Minister Pham Minh Chinh requested to promote the payment of pensions, social insurance benefits and unemployment benefits without using cash, and promote comprehensive electronic payments through the banking system.
In addition, from July 1, 2025, the conditions for receiving pensions will have important changes. Accordingly, employees only need to be of retirement age and have at least 15 years of social insurance contributions, instead of 20 years as currently prescribed. This is a new point in the Social Insurance Law 2024 to create conditions for people to retire earlier.
According to the 2019 Labor Code, the retirement age under normal working conditions will gradually increase according to the roadmap: men will increase from 60 to 62 years old in 2028; women will increase from 55 to 60 years old in 2035. Specifically, by 2025, the retirement age for men will be 61 years and 3 months, and for women it will be 56 years and 8 months.
