Workers have many opportunities to receive pensions.

Ms. Nguyen Thi Hong (64 years old, residing in Hoa Hiep Trung ward) joined voluntary social insurance on June 1, 2021 (when she was 61 years old) and has been participating for almost 4 years now. According to the old Social Insurance Law, she had to contribute for more than 16 years to receive a pension. However, with the 2024 Social Insurance Law effective from July 1, 2025, Ms. Hong only needs to contribute for another 11 years to receive a pension or monthly social assistance from her contributions if needed, and will be issued a free health insurance card.

"When I learned that the new Social Insurance Law has reduced the required contribution period to 15 years for pension eligibility, I was very happy. I will contribute as much as I can to ensure I have a pension to support myself," Ms. Hong shared.

Reducing the required period of social insurance contributions to be eligible for a pension from 20 years to 15 years has motivated Mr. Bui Ngoc Thanh (Tuy Hoa ward) to continue participating in voluntary social insurance for his wife. “I have been contributing to voluntary social insurance for my wife for almost 3 years now. As a working couple, we proactively participate in voluntary social insurance, paying monthly so that we will have a pension later and free health insurance. This also eases the burden on our children,” Mr. Thanh said.

Mr. Huynh Ngoc Tran (Tuy Hoa ward) purchased voluntary social insurance as a gift for a relative.

With the regulation reducing the minimum number of years of social insurance contributions required to receive a pension from 20 years to 15 years, the 2024 Social Insurance Law has created opportunities for those who started participating in social insurance late (those aged 45-47), those with intermittent participation, or those working in specialized jobs with short working periods (who still haven't accumulated 20 years of social insurance contributions by retirement age) to also have the opportunity to receive a monthly pension and have health insurance throughout their pension period.

The 2024 Social Insurance Law clearly stipulates the monthly pension benefit rates. Accordingly, for female workers, the benefit is calculated as 45% of the average salary used as the basis for social insurance contributions for 15 years of contributions, with an additional 2% for each additional year, up to a maximum of 75%. For male workers with 15 to less than 20 years of social insurance contributions: 15 years of contributions correspond to 40%, with a 1% increase for each additional year, and 20 years of contributions correspond to 45%. After that, each additional year of contributions is increased by 2%, up to a maximum of 75%.

“With a stable monthly pension, regularly adjusted by the State, and health insurance cards purchased by the Social Insurance Fund during the pension period, covering 95% of medical examination costs, and providing benefits for 5 consecutive years, including access to healthcare services at all levels, this will contribute to better ensuring the lives of workers. As a result, more people will have guaranteed pensions and access to health insurance in their old age,” said Phan Ngoc Luan, Deputy Director of the Provincial Social Insurance Department.

According to Mr. Phan Ngoc Luan, the amended Social Insurance Law of 2024 has inherited and developed existing regulations that are appropriate in practice, amended inappropriate regulations, ensured feasibility and long-term consistency with the 2019 Labor Code regarding retirement age and conditions for receiving pension benefits. This regulation also contributes to encouraging workers to maintain their social insurance contribution period and reduce the number of people withdrawing social insurance in a lump sum.

According to the 2024 Social Insurance Law, in addition to reducing the minimum number of years of social insurance contributions required to receive a pension from 20 years to 15 years, employees with longer social insurance contribution periods will still receive a higher pension rate, unchanged from the current regulations.

Source: https://baodaklak.vn/xa-hoi/202510/nguoi-lao-dong-co-nhieu-co-hoi-duoc-huong-luong-huu-64816e1/