From 1/1/2018: Adjusting the new pension regime

According to the provisions of the Social Insurance Law 2014 effective from January 1, 2016: From January 1, 2018, male workers with 31 years of social insurance contributions and female workers with 30 years of social insurance contributions will receive a pension equivalent to 75% of the monthly social insurance contribution.

Meeting the pension level of 75% according to the roadmap to 2022, is as follows: From 2019, men must have 32 years of social insurance participation, 33 years in 2020, 34 years in 2021 and from 2022, men must have 35 years of social insurance contribution.

For women, after January 1, 2018, the pension benefit regulation will be applied at 75% after 30 years of participating in social insurance, without the need for a gradual increase like men.

The above retirement age calculation is based on current regulations of the Labor Law: Men retire at age 60 and women at age 55.

According to Vietnamnet.vn