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BHXH pension entitlements under the 2024 Law on Social Insurance (BHXH 2024) depend on the number of years of contribution, with pension rates differing between men and women even when the contribution period is the same.
With a 20-year contribution period, the pension rate differs by gender. For women, the rate is 45% for the first 15 years, with an additional 2 percentage points added for each year beyond 15. As a result, a woman with 20 years of contributions would receive 55%.
For men, 20 years of contributions reach 45%, and thereafter each additional year adds 2%. Therefore, at 20 years, a man would still receive 45%.
The same structure implies different pension rates for workers retiring in 2025 with 30 years of BHXH contributions. A female worker with 30 years of contributions would receive a pension equal to 75% of the monthly wage on which contributions were calculated. For a male worker with 30 years of contributions, the pension rate would be 65%.
From 2026, retirement ages for men will increase: 61 years 6 months in 2026, 61 years 9 months in 2027, and 62 years from 2028 onward.
Female retirement ages will be 57 in 2026, then increase by 4 months each year, reaching 59 years 8 months by 2034 and 60 years from 2035 onward.
According to BHXH Vietnam, the country currently has about 3.4 million people receiving pension or related allowances. Their monthly payments are distributed as follows:
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