It is proposed that people aged 60 receive a social pension of 500,000 VND

Lam Dong voters before the 10th session of the 15th National Assembly sent a petition to the Ministry of Health, requesting that people over 60 years old be included in social pension benefits. According to voters, the law stipulates that elderly people are Vietnamese citizens aged 60 or older, so the Government is requested to consider supporting people of this age to receive social pension benefits, at 500,000 VND per month.

Social pension is a new layer of security included in the revised Social Insurance Law, effective from July 1. Accordingly, people over the age of 75 who do not have a pension or social insurance benefit will receive a social pension benefit of 500,000 VND per month. Compared to before, the beneficiary age has decreased from 80 to 75. For poor and near-poor households, the applicable age ranges from full 70 to under 75 years old. About 1.6 million elderly people nationwide benefit from the policy with a total cost of about 9,600 billion VND per year.

The Government allows provinces and cities to balance their budgets to support higher than the floor level of 500,000 VND. Quang Ninh and Hai Phong localities spent 700,000 VND; Hanoi and Ho Chi Minh City: 650,000 VND per person per month. Every three years, the Government will review and consider adjusting the level of general social pension benefits. Based on the Government’s proposal, depending on socio-economic conditions and budget balance, the National Assembly Standing Committee will adjust and reduce the age for social benefits.

Responding to the above petition, the Ministry of Health said that the Government has repeatedly lowered the age to receive and raised the level of social benefits for the elderly. Specifically, from 2002 to present, the age to receive social benefits has been lowered from 90 to 75. Lowering the age and expanding benefits for the elderly in a difficult budget context demonstrates concern for social security. The Ministry noted the recommendations and coordinated with relevant ministries and branches to research and advise competent authorities to continue perfecting policies for the elderly.

By the end of 2024, the country will have more than 16.1 million elderly people, of whom 2.5 million are receiving pensions and monthly social insurance benefits; 2.06 million people receive monthly social benefits; 10,000 people are being raised in social assistance facilities.

The security policy for the elderly who have reached the end of working age has a basic pension level for those participating in compulsory and voluntary social insurance who have paid social insurance for full years, retired at the right age, and paid from the Social Insurance Fund. The monthly benefit level is for people who are not eligible for pension, under 75 years old, from the amount contributed to the Fund. Social pension benefits for people over 75 years old benefit from the state budget.