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According to Vietnam Social Security (BHXH), the country has about 3.4 million people receiving retirement pensions, social insurance allowances, and monthly allowances. Among them, more than 11,500 receive from 20 million VND per month; nearly 418,500 receive from 10 to under 20 million; more than 1 million receive from 6 to under 10 million; about 1.35 million receive from 3 to under 6 million. Additionally, about 564,000 receive under 3 million VND per month, of whom about 419,400 are below 2.34 million VND — equivalent to the base salary. Thus, based on the statistics provided by the agency, those receiving retirement pensions and monthly allowances predominantly belong to the 3 million to under 10 million per month range, accounting for nearly 80%. The most recent adjustment was implemented from July 1, 2024 under Decree 75, with a 15% increase, contributing to improved living conditions for recipients. The increase for those retired before 1995 also helped narrow the gap with those retired after that time. However, the Ministry of Internal Affairs notes that the current adjustment policy still reveals many shortcomings. The uniform percentage increases over multiple years have widened the gap between high- and low-benefit groups. Those with higher pension bases continue to benefit more with each adjustment, creating a compounding effect, while not fully reflecting the contribution–benefit principle. From 2016 to 2025, pensions rose by 71.09%, significantly higher than the rise in the consumer price index (34.85%) and the rate of return on the Social Security Fund’s investments (67.28%). This has meant benefits have grown faster than the contributions would imply. Funding balance pressures have also increased in the context of an aging population. In 2024, spending on retirement and survivor benefits was 2.63 times that of 2016, while revenue rose only 2.19 times. The expenditure-to-revenue ratio rose from 65.14% to 78.37%. The Ministry of Internal Affairs proposes an 8% increase in pensions and monthly allowances from July 1, 2026, in a draft decree being reviewed by the Ministry of Justice. The adjustment is expected to apply to 10 groups, and also include people receiving monthly allowances under Article 23 of the BHXH Law 2024. By D.Thu
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