Pension and death funds spend more than 255 trillion VND in 1 year
Vietnam Social Security announced the financial settlement for 2024, including information on retirement and death funds at the end of January 2026.
According to a report by Vietnam Social Security, in the fiscal year 2024, the total revenue of Vietnam Social Security will reach 547 trillion VND.
This revenue mainly comes from compulsory social insurance with VND366 trillion and Health Insurance reaching VND141 trillion. Other revenues include Voluntary Social Insurance of about VND10 trillion and Unemployment Insurance in the total revenue structure.
On the budget expenditure side, the total expenditure for Social Insurance and Unemployment Insurance regimes nationwide is 363 trillion VND.
In particular, the most important highlight is the pension and death fund with a total expenditure of up to 255 trillion VND. In addition, the Unemployment Insurance Fund has paid VND23 trillion to support workers.
Notably, spending on medical examination and treatment under Health Insurance accounts for a large proportion of VND134 trillion. Finally, the cost for the management of the entire industry's apparatus is settled at 12 trillion VND.
Previously, Lao Dong Newspaper reported that pensions were adjusted according to the new Social Insurance Law from July 1, 2026, but priority was given to low-paid people who retired before 1995, so not everyone was given the same increase.
According to the Social Insurance Law 2024, effective from July 1, 2025, pension adjustments in the coming time will be implemented according to a new mechanism, associated with the consumer price index (CPI) and the ability to balance the state budget as well as the Social Insurance Fund.
Article 67 of the Law on Social Insurance 2024 stipulates that pensions are adjusted based on the increase in the consumer price index, in accordance with the capacity of the state budget and the Social Insurance Fund. This means that when the cost of living increases, the State will consider adjusting pensions to ensure the actual value of the money that retirees are receiving.
Notably, the new law also requires a satisfactory adjustment of pension increases for those with low pensions and those who retired before 1995. This is a group that is suffering a great disadvantage due to the low salary level and social insurance regime in previous periods, leading to a significant difference compared to retirees in later periods. Prioritizing this group aims to narrow the pension gap between generations of workers.
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