Vietnam Ministry of Health reviews social pension age and benefit proposals

Vietnam’s Ministry of Health has responded to voter proposals regarding the adjustment of social pension benefits. Following the first session of the 16th National Assembly, voters from Tay Ninh province suggested amending Article 21 of the Law on Social Insurance to reduce the eligibility age for social pensions from 75 to 70 years old.

Additionally, there are proposals to increase the monthly social pension amount from 500,000 VND to 1 million VND to improve the living standards of the elderly. Voters also requested that the eligibility age for veterans be lowered from 75 to 60 years old as a form of recognition for their service.

The Ministry of Health stated that any reduction in the eligibility age must undergo comprehensive research to assess the impact on the number of beneficiaries, budget resources, and the long-term sustainability of the social security system. The Ministry emphasized that “adjustments must be consistent with the state budget's balancing capacity in each period.”

Regarding the increase in monthly benefits, the Ministry noted that adjustments should be based on economic growth rates, consumer price indices, and social security requirements. The Ministry will coordinate with relevant agencies to study these proposals during the process of perfecting social security policies.