Answer: The Social Insurance Law No. 41/2024/QH15 of 2024, effective from July 1, 2025, has changed the regulations on pension eligibility conditions compared to the Social Insurance Law 2014. Accordingly, employees who reach retirement age and have paid social insurance for 15 years or more will receive a monthly pension and be issued a free health insurance card for health care during the pension period. This regulation applies to those who have participated in social insurance before the effective date of the amended Social Insurance Law.
When paying social insurance for less than 15 years, what should employees do?
1. In case employees are not eligible for retirement (not yet 15 years of social insurance contributions), they should continue to participate in social insurance to have the opportunity to enjoy higher benefits such as:
- When continuing to participate in social insurance, employees will enjoy higher benefits because the benefits are calculated based on the payment period such as sickness, work accident, occupational disease, etc.
- Receive pension with easier conditions (the minimum number of years of contribution to receive pension is 15 years instead of 20 years as per current regulations);
- During the pension period, the beneficiary also receives health insurance contributions from the Social Insurance Fund, and medical examination and treatment fees to take care of their health when they retire.
2. In case a social insurance participant has reached retirement age (but has not yet paid social insurance for 15 years to receive a pension) and has not yet reached the age to receive social pension benefits, if he/she does not receive a one-time social insurance payment and does not reserve the period of social insurance payment and has a request, he/she will receive the following regime:
- Receive monthly benefits from your own social insurance contributions. The duration and level of monthly benefits are determined based on the period of contribution and salary used as the basis for social insurance contributions of the employee. The lowest monthly benefit level is equal to the social pension benefit level.
- During the period of receiving monthly allowance, the beneficiary receives health insurance from the state budget; when the beneficiary dies, relatives are entitled to a one-time allowance for the months not yet received and a funeral allowance if they meet the prescribed conditions.
The Social Insurance Law 2024 stipulates that employees who reach retirement age and have paid social insurance for 15 years or more are entitled to receive a monthly pension. This provision is intended to create opportunities for those who start participating in social insurance late or participate intermittently to accumulate 15 years of contributions (instead of 20 years as stipulated in the Social Insurance Law 2014) to receive a monthly pension instead of receiving social insurance in a lump sum.
On the other hand, this provision of the amended Social Insurance Law is also attractive, encouraging employees to maintain the period of social insurance payment to receive pension, contributing to reducing the number of people withdrawing social insurance at one time. From there, creating opportunities for all employees when they reach retirement age to have a stable income from pension and have a free health insurance card for health care.
Source: https://baobinhphuoc.com.vn/news/9/172030/dong-bhxh-chua-du-15-nam-nguoi-lao-dong-nen-lam-gi
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