Can retirement in July increase pension by an additional 8%?
Many workers preparing to retire are wondering whether retiring in July will receive a pension increase of 8% according to the new regulations?
From July 1, 2026, pensions, social insurance allowances and monthly allowances will be adjusted to increase by an additional 8% according to Decree 162/2026/ND-CP. However, not all retirees from this time will enjoy the above increase.
According to regulations, the 8% increase is calculated based on the pension, social insurance allowance and monthly allowance that the beneficiary received in June 2026. The formula guided by the Ministry of Home Affairs in Circular 14/2026/TT-BNV is to take the benefit level in June 2026 multiplied by 1.08.
This means that only those who have received pensions or allowances from June 2026 and earlier are eligible for an 8% increase from July 1, 2026.
Therefore, people who start retiring and receive pensions from July 2026 will not receive an additional 8% in this adjustment. Their pension level will be calculated according to current regulations at the time of retirement.
Previously, when the Government increased pensions by 15% from July 1, 2024 according to Decree 75/2024/ND-CP, many retirees after this time also said they were disadvantaged because they did not receive the increase.
At that time, Vietnam Social Security explained that the policy only applies to those who are receiving pensions, social insurance allowances and monthly allowances before July 1, 2024. Cases of retirement after this time are not subject to adjustment, so they are not entitled to an additional 15%.
Similarly, in the 2026 adjustment, retirees from July 2026 will not receive an additional 8% increase, because they are not subjects receiving pensions at the time of taking the adjustment milestone in June 2026.
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