(Dan Tri Newspaper) - When reaching retirement age, if workers have not contributed to social insurance for 35 years for men and 30 years for women, there are two ways to receive the maximum pension.
People receiving pensions in Ho Chi Minh City (Illustrative image: Ho Chi Minh City Social Insurance).
Mr. Nguyen Son has reached retirement age and has contributed to social insurance for 33 years. He wishes to continue working and contributing to social insurance for another two years to reach the maximum pension benefit of 75% of the average salary used as the basis for social insurance contributions.
Mr. Son is unsure whether working for two more years after reaching retirement age will allow him to contribute to social insurance and receive the maximum pension.
In response to Mr. Son, the Vietnam Social Security stated that the monthly pension amount for employees is stipulated in Clause 2, Article 56 of the 2014 Social Insurance Law.
Accordingly, for male workers retiring from 2022 onwards, the monthly pension is calculated as 45% of the average monthly salary used for social insurance contributions, corresponding to 20 years of social insurance contributions.
For female workers retiring from 2018 onwards, the monthly pension is calculated as 45% of the average monthly salary used for social insurance contributions, corresponding to 15 years of social insurance contributions.
After that, for each additional year of social insurance contributions, the employee receives an extra 2%. The maximum benefit is 75%.
Therefore, to achieve the maximum pension benefit rate of 75%, male workers must reach retirement age and have contributed to social insurance for 35 years.
In Mr. Son's case, upon reaching retirement age, he would have contributed to social insurance for 33 years, lacking 2 years to reach the maximum pension benefit.
According to Vietnam Social Security, if Mr. Son has not yet applied for a pension, and his employer still needs his services and continues to sign an employment contract with him, then he is still subject to mandatory social insurance participation.
In this case, if Mr. Son continues to participate in mandatory social insurance for another 2 years and then applies for retirement, he will be eligible to receive the maximum pension rate of 75%.
Secondly, if Mr. Son does not continue working, or is not subject to mandatory social insurance, he can continue to participate in voluntary social insurance for an additional two years. This period will also be counted towards the total social insurance participation time to calculate the maximum pension benefit for Mr. Son upon retirement.
Source: https://dantri.com.vn/an-sinh/2-cach-de-co-luong-huu-toi-da-khi-du-tuoi-huu-ma-chua-du-nam-dong-bhxh-20241024143643368.htm
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