Notes on the pension benefit rate when paying social insurance
From July 1st, official pensions will increase by 8%. People should note that the number of pension increases, high or low for each individual, will be related to the current benefit level.
The Government issued Decree No. 162/2026/ND-CP adjusting pensions, social insurance allowances and monthly allowances.
Accordingly, from July 1, 2026, the pension and social insurance allowance will increase by an additional 8%.
The Government increased the pension level, social insurance allowances and monthly allowances to 3.8 million VND/month for some cases with low benefit levels after the overall increase.
Thus, the absolute number of each individual increasing pension will mainly depend on the current pension benefit level.
Vietnam Social Security said that the minimum and maximum pension benefit rates will depend on the number of years of social insurance contribution.
The minimum pension benefit rate when participating in social insurance for 15 years for female and male workers is different:
Female workers are 45%; male workers are 40%
The maximum pension benefit rate is 75% for both men and women when:
Female workers participate in social insurance for 30 years, male workers participate in social insurance for 35 years.
Vietnam Social Security also added that there are 3.5 million people nationwide receiving monthly pensions.
By the end of 2025, the number of social insurance participants reached 21.53 million people, an increase of 6.8 million people compared to 2018, equivalent to an increase of 46.14%.
The rate of working-age labor participating in social insurance reached 45.11%, an increase of 14.86% compared to 2018.
It is known that, according to a recent report by Vietnam Social Security, the number of people receiving pensions over 20 million VND/month is 11,560 people. Detailed number of pensioners according to the benefit level is as follows:
Vietnam Social Security (BHXH) emphasizes that to increase the pension benefit level or have more financial resources when old, workers can consider some solutions such as: People can pay compulsory social insurance on a higher salary level.
According to new regulations, people can improve their salaries by participating in supplementary pension insurance.
This is a voluntary insurance type according to market principles, allowing employees and employers to contribute to their personal retirement accounts to receive a second pension in addition to compulsory social insurance. The State currently has policies to encourage people to participate in this form through tax incentives.
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