Vietnam updates social assistance and pension benefit policies

Vietnam is implementing new social assistance and pension-related policies. Under Decree 335/2026/NĐ-CP, effective October 5, the standard social assistance level has increased to 540,000 VND per month, up from the previous 500,000 VND. This standard serves as the basis for determining various allowances, including support for the elderly in poor households who lack caregivers or whose caregivers are also receiving monthly social assistance.

Additionally, under the 2024 Social Insurance Law, a new monthly allowance system is being introduced for elderly workers who have reached retirement age but have not accumulated sufficient years of social insurance contributions to qualify for a pension, and who are not yet eligible for social retirement benefits. This allows individuals to receive monthly payments from their own accumulated contributions instead of a lump-sum payment. Procedures for this benefit are outlined in Decision No. 2270/QĐ-BTC, with applications being processed through simplified administrative steps, including online submissions.