"Paving the way" to receiving a pension

Currently, many workers reach retirement age but lack the required number of years of social insurance contributions. With the flexible regulations of the Social Insurance Law, people can extend their participation period, aiming for a stable pension and long-term health insurance coverage.

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Opportunities for those who do not yet qualify for a pension.

According to Mr. Le Hung Cuong, Deputy Director of the Social Insurance Department of Ca Mau province, current laws have created many conditions to ensure that workers do not "miss out" on their retirement benefits . Specifically, for those who have reached retirement age but have not yet accumulated enough years of social insurance contributions, if they have participated for 10 years or more, they are allowed to make a lump-sum payment for the remaining years to meet the eligibility requirements for a pension.

If the period of participation is less than 10 years, employees can continue participating in social insurance to reach this milestone, and then make a lump-sum payment for the remaining amount. Those who have stopped participating in mandatory social insurance can still switch to voluntary social insurance to accumulate time and ensure long-term benefits.

This policy is a significant expansion since the 2014 Social Insurance Law came into effect, giving people more options. Instead of receiving a lump-sum social insurance benefit , many people choose to continue participating to receive a monthly pension, along with a free health insurance card, a practical support system in old age and declining health.

People receive their pensions through the postal service payment system.

Previously, to be eligible for a pension, workers had to participate in social insurance for at least 20 years. A new point of interest to many is that from July 1, 2025, according to the 2024 Social Insurance Law, this period will be reduced to 15 years. At that time, participants will not only receive a monthly pension but also be issued a free health insurance card, with coverage up to 95% of medical examination and treatment costs, giving older adults greater peace of mind regarding their healthcare.

According to the 2024 Social Insurance Law, voluntary social insurance participants are entitled to additional benefits such as maternity leave, contributing to better protection of people's rights. The policy also includes funeral expenses and allowances for relatives when a participant passes away. Contribution levels and methods are quite flexible, allowing for monthly, quarterly, or annual payments, depending on individual economic conditions. The government also provides partial subsidies for contributions to certain groups, further encouraging long-term participation.

Spreading opportunities

Ms. Duong Thi Thu Ha, formerly of the Women's Union of Tran Van Thoi town (old), had insufficient mandatory social insurance contributions to qualify for a pension. Upon reaching retirement age, she chose to participate in voluntary social insurance, then made a lump-sum payment to cover the remaining years. She officially began receiving her pension in November 2023.

Ms. Ha said that having a monthly pension helps her be more proactive in her spending and no longer dependent on her children and grandchildren. In particular, being provided with a free health insurance card gives her added peace of mind whenever she needs medical examination or treatment.

Pensioners will be issued a free health insurance card with a 95% coverage rate for medical examinations and treatment.

Not only does she benefit from the policies, but she also actively participates in promoting and encouraging people to participate in social insurance and health insurance. As a social insurance and health insurance collection officer in her locality, she is encouraging many people to participate, from self-employed individuals and those who have left their jobs but are not yet eligible for a pension, to households needing to prepare for the future.

Currently, nearly 600 people in Ca Mau province are receiving pensions from voluntary social insurance . This number shows a positive shift in people's awareness of social security policies.

In the coming period, the provincial Social Insurance sector will continue to promote communication in a way that is accessible and easy to understand, coordinating with the government and mass organizations to bring policies to every hamlet and every household, so that everyone has the opportunity to ensure a stable life in old age.

Hong Phuong

Source: https://baocamau.vn/-mo-loi-huong-luong-huu-a127186.html