What citizens need to know: Pension and Social Insurance benefit payment schedule for September 2024
Because the payment of monthly pensions and social insurance benefits for September 2024 coincided with the National Day holiday, the Social Insurance agency made full preparations from the end of August 2024 so that beneficiaries could receive their benefits immediately after the holiday.
Accordingly, the payment schedule for beneficiaries via bank accounts of the provincial Social Insurance agencies will begin on September 4th or 5th, 2024, according to the announced schedule, ensuring completion before September 10th, 2024. In cases where beneficiaries have not received their benefits due to incorrect personal account information, they are requested to contact the Social Insurance agency to correct their information and receive their benefits promptly within the month; the provincial Social Insurance agencies will announce the specific payment schedule for beneficiaries' information.
Previously, to reduce intermediaries and ensure timely payment so that beneficiaries received their money as early as the beginning of the month, from August 1st, the Vietnam Social Security directly transferred monthly pension and social insurance benefit payments to beneficiaries' personal accounts at the Social Security offices in 43 provinces and cities.
In the September 2024 payment period, Vietnam Social Security will continue to pay monthly pensions and social insurance benefits through individual accounts at 43 provincial and centrally-administered city social security offices that implemented this method in the August 2024 payment period. For the remaining 20 provincial social security offices, monthly pension and social insurance benefit payments will continue to be made through individual accounts and in cash via the postal system.
Currently, nearly 3.4 million people nationwide receive monthly pensions and social insurance benefits. Following the government and Prime Minister's directives, the Vietnam Social Insurance sector has actively communicated and disseminated the advantages and conveniences of receiving benefits via bank accounts, encouraging beneficiaries to voluntarily participate. To date, in urban areas, approximately 74% of beneficiaries receive social insurance and unemployment benefits through personal bank accounts (an increase of about 10% compared to 2023).
