Vietnam retirement savings gap and proposed elderly support

A survey by the SOA Research Institute of 750 Vietnamese adults reveals a gap between retirement confidence and financial reality. While 71% of respondents believe their savings are sufficient, 39% admit to starting their savings later than planned, with 44% of prime-age workers reporting late starts.

Average self-reported savings stand at approximately 1.2 billion VND, excluding real estate. Currently, only about 38% of Vietnam's 14.4 million retirees receive monthly pensions or social insurance benefits. Major long-term concerns include chronic diseases (37%), potential cuts to medical benefits (32%), and inflation (32%).

In response to these challenges, a proposed policy in Hanoi aims to provide monthly support to vulnerable elderly populations starting January 1, 2027. Under the draft resolution, lonely elderly individuals from poor or near-poor households in urban areas could receive up to 3.5 million VND per month, while those in rural areas could receive 3 million VND per month.