According to social insurance laws, retirement and pension benefits depend on two main factors: retirement age and years of social insurance contributions. In 2025, these regulations will see significant changes, particularly from July 1. This article provides detailed information about the retirement conditions before and after this date.
Retirement Conditions Before July 1, 2025
Before July 1, 2025, the retirement conditions are stipulated in Decree 135/2020/ND-CP. According to this decree, the normal retirement age for workers is as follows:
- Male workers: 61 years and 3 months.
- Female workers: 56 years and 8 months.
The retirement date is calculated as the last day of the month when the worker reaches the required age, and they begin receiving their pension from the first day of the following month.
Regarding social insurance contributions, workers need at least 20 years of contributions to be eligible for a pension. Specifically:
- Male workers: Receive 45% of the average salary used as the basis for social insurance contributions.
- Female workers: Receive 55% of the average salary used as the basis for social insurance contributions.
Retirement Conditions From July 1, 2025 Onwards
From July 1, 2025, the Social Insurance Law 2024 comes into effect. While the retirement age remains unchanged under Decree 135/2020/ND-CP, the minimum years of social insurance contributions required for a pension has been significantly reduced:
- Both male and female workers now only need 15 years of contributions instead of 20 years previously.
With this change, the minimum pension percentage has also been adjusted:
- Male workers: Receive 40% of the average salary used as the basis for social insurance contributions.
- Female workers: Receive 45% of the average salary used as the basis for social insurance contributions.
Important Notes for Workers
- Check Your Retirement Age: Workers should accurately determine their retirement age based on their year of birth and current regulations.
- Monitor Social Insurance Contributions: Ensure you have made the required number of contributions under the new rules to qualify for a pension.
- Prepare Retirement Documentation: Gather all necessary documents and procedures to register for retirement on time.
These changes in retirement regulations from July 1, 2025, offer more opportunities for workers while requiring greater proactivity in preparation and staying informed. Follow detailed guidelines from the Social Insurance authorities to ensure your rights are protected.
