Average pension 6.2 million VND/month

(Dan Tri) - Currently, the average pension in Vietnam is about 6.2 million VND/month, equal to 70% of the average income per capita.

Regarding the opinion that our country's pensions are low, Mr. Pham Truong Giang, Director of the Department of Social Insurance, Ministry of Labor - Invalids and Social Affairs, said that currently, the average pension is 6.2 million VND/person.

According to the Director of the Social Insurance Department, international practice shows that pensions are compared with average income per capita. In Vietnam, the average pension is about 70% of income per capita. Meanwhile, this rate in common countries is only about 30%.

"Thus, Vietnam's pension is not low, but only a part of workers who retired before 1995 was not high. Because at that time, workers had short working time and retired early," said Mr. Giang.

According to statistics from Vietnam Social Security, there are currently nearly 3.4 million people nationwide receiving monthly pension and social insurance benefits.

Since 1995, the National Assembly and the Government have adjusted pensions 24 times. After many adjustments, the current pension level of retirees has increased from 21 to 26 times compared to the pension level in 1995.

The most recent increase in pensions was from July 1, 2024, according to Decree 75/2024/ND-CP, with pensions adjusted to increase by 15%. For the group of workers who retired before 1995, after the 15% increase, if the benefit level is lower than VND 3.5 million/month, it will be adjusted to increase again.

Specifically, increase by 300,000 VND/person/month for those with benefits under 3.2 million VND/person/month; increase by 3.5 million VND/person/month for those with benefits from 3.2 million VND/person/month to under 3.5 million VND/person/month.

Source: https://dantri.com.vn/an-sinh/luong-huu-binh-quan-62-trieu-dongthang-20250111091726881.htm