Increase retirement age, reduce minimum years of social insurance payment to receive pension in 2026

The 2019 Labor Code stipulates that employees are entitled to pension when they ensure the time of social insurance payment and reach the prescribed retirement age.

Retirement age increases according to schedule

The retirement age of employees in normal working conditions is adjusted according to the roadmap until reaching 62 years old for male employees in 2028 and 60 years old for female employees in 2035.

From 2021, the retirement age of employees is 60 years and 3 months for male employees and 55 years and 4 months for female employees; after that, each year it increases by 3 months for male employees and 4 months for female employees.

Thus, the retirement age of male workers in 2026 is 61 years and 6 months, and that of female workers is 57 years old.

In addition, workers with reduced working capacity; working in especially arduous, toxic, or dangerous jobs; working in arduous, toxic, or dangerous jobs; working in areas with particularly difficult socio -economic conditions can retire at a lower age, but not more than 5 years earlier than the prescribed age.

Workers with high professional and technical qualifications and some special cases can retire at a higher age but not more than 5 years earlier than the regulation.

Details of the latest 2026 retirement age lookup table are as follows:

Lower the minimum number of years of social insurance contributions to receive pension

According to the Law on Social Insurance 2024, from July 1, employees will be eligible for pension when they reach retirement age as prescribed by the Labor Code and have paid compulsory social insurance for at least 15 years.

The monthly pension is calculated based on the average salary used as the basis for social insurance contributions and the social insurance contribution period.

For female workers, the benefit is equal to 45% of the average salary for 15 years of social insurance contributions, then each additional year of contribution is calculated by adding 2%, up to a maximum of 75%.

For male workers, the benefit is 45% of the average salary for 20 years of social insurance contributions, then 2% is added for each additional year of contributions, up to a maximum of 75%. In the case of men with a contribution period of 15 years to less than 20 years, the benefit is 40% for 15 years, then 1% is added for each additional year of contributions.

When an employee retires early and receives an early pension due to reduced working capacity, the benefit level is calculated as above, then for each year of early retirement, the pension is reduced by 2%. If the early retirement period is less than 6 months, there is no reduction; from 6 months to less than 12 months, the pension is reduced by 1%.

Average salary for social insurance contribution

The Law on Social Insurance 2024 stipulates the average salary level as the basis for social insurance contributions to calculate pensions and allowances for employees in the public and private sectors.

Specifically, for employees who are subject to the salary regime prescribed by the State and have paid social insurance for the entire period of time under this salary regime, the average salary used as the basis for social insurance payment for the number of years of social insurance payment before retirement is calculated as follows:

If you started participating in social insurance before January 1, 1995, the average salary used as the basis for social insurance contributions for the last 5 years before retirement will be calculated;

Starting to participate in social insurance between January 1, 1995 and December 31, 2000, the average salary used as the basis for social insurance contributions for the last 6 years before retirement is calculated;

Starting to participate in social insurance between January 1, 2001 and December 31, 2006, the average salary used as the basis for social insurance contributions for the last 8 years before retirement is calculated;

Starting to participate in social insurance between January 1, 2007 and December 31, 2015, the average salary used as the basis for social insurance contributions for the last 10 years before retirement will be calculated;

Starting to participate in social insurance from January 1, 2016 to December 31, 2019, the average salary used as the basis for social insurance contributions for the last 15 years before retirement will be calculated;

Starting to participate in social insurance from January 1, 2020 to December 31, 2024, the average salary used as the basis for social insurance contributions for the last 20 years before retirement will be calculated;

Starting to participate in social insurance from January 1, 2025 onwards, the average salary used as the basis for social insurance payment for the entire social insurance payment period will be calculated.

In addition, for employees who have paid social insurance for the entire period according to the salary regime decided by the employer, the average salary used as the basis for paying social insurance for the entire period will be calculated.

Source: https://baohatinh.vn/tang-tuoi-nghi-huu-giam-nam-dong-bhxh-toi-thieu-huong-luong-huu-nam-2026-post300825.html