Draft Decree detailing and guiding the implementation of certain provisions of the Social Insurance Law regarding social pensions is now open for public consultation. This is a crucial step towards improving the social security system, particularly for elderly citizens in Vietnam.
Eligibility and Conditions for Social Pension Benefits
According to the draft, Vietnamese citizens are eligible for social pension benefits if they meet the following conditions:
- At least 75 years old.
- Not receiving a monthly pension or social insurance benefit (except in special cases as specified by the Government).
- Have submitted a formal request for social pension benefits.
For individuals from poor households or near-poor households, the age requirement for social pension benefits is reduced to 70 years and above, but under 75 years. This compassionate policy demonstrates a special concern for vulnerable groups in society.
Monthly Social Pension Benefit Amounts
The Ministry of Labor, Invalids, and Social Affairs proposes a monthly social pension benefit amounting to 500,000 VND per person. In cases where the recipient also qualifies for monthly social assistance benefits, they will receive a higher amount.
Additionally, beneficiaries who pass away while receiving social pension benefits will be provided with funeral support worth 10 million VND.
Timing for Receiving Social Pension Benefits
The draft specifies the timing for receiving social pension benefits as follows:
- Seniors turning 75 before July 1 will start receiving benefits on July 1.
- Seniors turning 75 after July 1 will begin receiving benefits upon reaching the age of 75.
For individuals from poor or near-poor households:
- Seniors turning 70 before July 1 will start receiving benefits on July 1.
- Seniors turning 70 after July 1 will begin receiving benefits upon reaching the age of 70.
Funding for Implementing the Policy
It is estimated that approximately 1.5 million people aged 75 to 80 years old will be eligible for social pension benefits. With a benefit of 500,000 VND per person per month, the total annual cost would be 9.046 trillion VND.
During the period from 2025 to 2030, the budget is expected to increase by an additional 4.5 trillion VND annually, bringing the total funding for the entire period to 40.5 trillion VND. This significant investment underscores the government’s commitment to enhancing the welfare of elderly citizens.
Conclusion
The draft decree on social pension benefits represents a significant advancement in the development of social security policies in Vietnam. With specific regulations on eligibility, conditions, benefit amounts, and timing, the draft promises substantial support for millions of elderly citizens nationwide.
Source: Dan Tri
