You have the option to receive a pension or a lump-sum social insurance payment.

(Chinhphu.vn) - Mr. Le Nam Hoang (Hue) is a civil servant who has contributed to social insurance for 20 years but has not yet reached retirement age. Mr. Hoang asks whether he will be entitled to a retirement pension or a lump-sum payment if he retires?

Regarding this matter, the Vietnam Social Security responded as follows:

The Social Insurance Law of 2024, effective from July 1, 2025, stipulates the conditions for retirement and the conditions for receiving a lump-sum social insurance payment as follows:

Clause 1 of Article 64 stipulates: "The subjects specified in points a, b, c, g, h, i, k, l, m and n of Clause 1 and Clause 2 of Article 2 of this Law, upon leaving their jobs with a period of compulsory social insurance contributions of 15 years or more, are entitled to a pension if they fall into one of the following cases:

a) Reached the retirement age as stipulated in Clause 2, Article 169 of the Labor Code;

b) Having reached the retirement age as prescribed in Clause 3, Article 169 of the Labor Code and having a total period of compulsory social insurance contributions of 15 years or more while working in arduous, hazardous, or particularly arduous, hazardous, or dangerous occupations or jobs listed in the catalog of arduous, hazardous, or particularly arduous, hazardous, or dangerous occupations or jobs issued by the Minister of Labor, War Invalids and Social Affairs , or working in areas with particularly difficult socio-economic conditions, including the time working in areas with a regional allowance coefficient of 0.7 or higher before January 1, 2021;

c) Being up to 10 years younger than the age stipulated in Clause 2, Article 169 of the Labor Code and having at least 15 years of experience working in underground coal mining as prescribed by the Government ;

d) Persons infected with HIV/AIDS due to occupational accidents or risks while performing assigned duties.

Clause 1 of Article 65 stipulates: "Individuals specified in points a, b, c, g, h, i, k, l, m, and n of Clause 1 and Clause 2 of Article 2 of this Law, upon retirement, if they have contributed to compulsory social insurance for 20 years or more, are entitled to a pension at a lower rate than those eligible for a pension as stipulated in points a, b, and c of Clause 1 of Article 64 of this Law, if they fall into one of the following cases:

a) Being up to 5 years younger than the age stipulated in point a, clause 1, Article 64 of this Law and having a reduced working capacity of 61% to less than 81%;

b) Being up to 10 years younger than the age stipulated in point a, clause 1, Article 64 of this Law and having a reduction in working capacity of 81% or more;

c) Having worked for 15 years or more in particularly arduous, hazardous, or dangerous occupations or jobs listed in the catalog of particularly arduous, hazardous, or dangerous occupations or jobs issued by the Minister of Labor, War Invalids and Social Affairs, and experiencing a reduction in working capacity of 61% or more.

In the case of Mr. Le Nam Hoang, a civil servant who has contributed to social insurance for 20 years, he is entitled to a lump-sum social insurance payment as stipulated in Clause 1, Article 70 of the 2024 Social Insurance Law as follows:

"Individuals specified in Clause 1, Article 2 of this Law who have ceased participating in social insurance and make a request are entitled to a lump-sum social insurance payment if they fall into one of the following cases:

... b) Going abroad to settle;

c) Individuals suffering from cancer, polio, decompensated cirrhosis, severe tuberculosis, or AIDS;

d) Persons with a reduction in working capacity of 81% or more; persons with severe disabilities...".

Clause 6 of Article 70 of the 2024 Social Insurance Law stipulates: "In cases where employees specified in points b, c, and d of Clause 1... of this Article meet both the conditions for receiving a pension and the conditions for receiving a lump-sum social insurance payment, the employee may choose to receive a monthly pension or a lump-sum social insurance payment."

The Vietnam Social Security (BHXH Vietnam) provides the regulations of the 2024 Social Insurance Law regarding the conditions for receiving a pension and the conditions for receiving a lump-sum social insurance payment so that you can compare them with your own conditions (age, health status, social insurance contribution history, job title, workplace location, etc.) or contact the social insurance agency where you are currently contributing to social insurance for specific guidance and advice.

Chinhphu.vn

Source: https://baochinhphu.vn/duoc-lua-chon-huong-luong-huu-hoac-bhxh-mot-lan-102250813095506364.htm