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Many people are concerned about how monthly pension benefits will be calculated from 2026 and how many years of social insurance (BHXH) contributions are required to receive the maximum 75% rate.
Under Article 66 of the 2024 Social Insurance Law, the monthly pension is calculated based on the pension benefit rate and the average salary or income used as the basis for BHXH contributions.
For participants in compulsory social insurance:
People who retire early under the regulations will still have their pension calculated using the above formula, but with a reduced accrual rate. For each year of early retirement, the pension rate decreases by 2%.
Some special cases—such as workers in certain professions or special duties in the armed forces as defined by the Government of Vietnam—will have separate calculation methods, with funding from the state budget.
For voluntary social insurance participants, pension is calculated similarly but based on the average income used as the basis for BHXH contributions.
The law also provides that for workers whose BHXH contributions are under an international agreement that Vietnam is a member of, but the period of contributions in Vietnam is less than 15 years, each year of contributions is counted as 2.25% of the average wage or income used as the basis for BHXH contributions.
Annual adjustments to the pension are made in accordance with the law.
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