What benefits and subsidies will people aged 60 and over receive in 2025?

The Law on Social Insurance 2024, effective from July 1, 2025, has built a multi-layered social insurance system including: compulsory social insurance and voluntary social insurance; supplementary pension insurance to aim for universal coverage.

People eligible for pension

Employees who ensure the conditions on social insurance payment period according to the law are entitled to receive pension when reaching retirement age.

The retirement age of employees in normal working conditions is adjusted according to the roadmap under the 2019 Labor Law. Thus, the retirement age in 2025 for male employees in normal working conditions is 61 years and 3 months, and for female employees is 56 years and 8 months.

In some cases, the employee's retirement age may be lower than the prescribed retirement age above.

Monthly allowance

The Social Insurance Law 2024 also stipulates the regime for employees who are not eligible for pension and are not old enough to receive social retirement benefits.

According to the draft Decree detailing and guiding the implementation of a number of articles of the Law on Social Insurance 2024 on compulsory social insurance, beneficiaries are Vietnamese citizens of retirement age who have paid social insurance but do not meet the pension period requirements (minimum 15 years), and are not eligible for social pension benefits (70-75 years old).

To enjoy this regime, the beneficiary does not receive a one-time social insurance payment and does not reserve the social insurance payment period but requests to receive monthly benefits.

The duration and level of monthly benefits are determined based on the payment period and average salary used as the basis for their social insurance payment.

The duration and level of monthly benefits are determined based on the employee's social insurance contribution period and basis. The lowest monthly benefit level is equal to the social pension benefit level.

During the period of receiving this monthly allowance, workers are also entitled to free social insurance and funeral expenses upon death as pensioners.

From 70 years old, receive social pension benefits

Social pension benefits under the provisions of the Law on Social Insurance 2024 are a type of social insurance guaranteed by the State budget, built on the basis of inheriting and partly developing from the regulations on monthly social allowances for the elderly.

Specifically, the Law stipulates that the age for receiving social pension benefits is 5 years lower than the current age for receiving monthly social benefits for the elderly (80 years old).

Pursuant to Article 21 of the Law on Social Insurance 2024, Vietnamese citizens are entitled to social retirement benefits when meeting the following conditions: Being 75 years of age or older; not receiving monthly pension or social insurance benefits, except in other cases as prescribed by the Government; having a written request to receive social retirement benefits.

Vietnamese citizens from 70 to under 75 years old, from poor or near-poor households and meeting the conditions are entitled to social retirement benefits.

The monthly social pension allowance level is prescribed by the Government, in accordance with socio-economic development conditions and the State budget capacity of each period.

Every three years, the Government reviews and considers adjusting the social pension level. Depending on socio-economic conditions, budget balance capacity, and social resource mobilization, the Provincial People's Committee shall submit to the People's Council at the same level a decision on additional support for social pension beneficiaries.

Notably, people who are both eligible for social pension benefits and monthly social benefits will receive a higher benefit.

During their retirement benefits, they receive health insurance from the State budget. When they die, the organization or individual in charge of the funeral will receive funeral expense support according to the law on the elderly.

The Law also stipulates that the Standing Committee of the National Assembly decides to gradually reduce the age of receiving social pension benefits based on the Government's proposal, in accordance with socio-economic development conditions and the capacity of the State budget in each period.