Conditions for receiving one-time social insurance benefits from July 1, 2025

Sharing the main points of the amended Social Insurance Law of 2024, Mr. Pham Truong Giang, Director of the Social Insurance Department ( Ministry of Labor, War Invalids and Social Affairs ), affirmed that reducing the minimum number of years of social insurance contributions required to receive a monthly pension from 20 years to 15 years aims to increase opportunities for workers to enjoy retirement benefits.

According to Mr. Giang, when the 2024 Social Insurance Law comes into effect (from July 1, 2025), those who participated in social insurance before July 1, 2025 will still be entitled to a lump-sum social insurance payment upon request in 6 cases. For those who participate in social insurance from July 1, 2025 onwards, they will still be entitled to a lump-sum social insurance payment upon request in 5 cases.

Furthermore, Mr. Pham Truong Giang stated that the 2024 Social Insurance Law also includes provisions aimed at increasing benefits and encouraging workers to preserve their social insurance contribution period to receive a pension instead of receiving a lump-sum social insurance payment.

Accordingly, if employees preserve their social insurance participation period to receive a pension instead of receiving a lump-sum social insurance payment, they have the opportunity to enjoy three benefits.

Firstly, there is the policy of providing credit support to workers who have contributed to social insurance but have lost their jobs.

Secondly, there's the opportunity to receive a monthly allowance from your contributions starting from retirement age.

Thirdly, while receiving the monthly allowance, they are entitled to health insurance benefits paid for by the state budget.

According to statistics, in the 7 years since the implementation of the 2014 Social Insurance Law, over 53,000 people who had reached retirement age had to receive a lump-sum social insurance payment because they had not contributed to mandatory social insurance for 20 years; and over 20,000 people who, upon reaching retirement age, had not contributed to social insurance for the required period had to make a lump-sum payment for the remaining time to receive a pension.

With the regulation reducing the minimum social insurance contribution period to be eligible for a pension to 15 years, cases like the ones mentioned above will decrease significantly, increasing the percentage of people reaching retirement age who receive pension benefits and ensuring social security.

Source: https://dantri.com.vn/an-sinh/dieu-kien-huong-bao-hiem-xa-hoi-mot-lan-tu-ngay-172025-20241001121739304.htm