The Social Insurance Law 2024 stipulates that workers who reach retirement age but have not met the minimum contribution years for a pension, and are not yet eligible for a social pension, can opt to receive a monthly allowance from their contributions to the Fund. This is contingent on them not withdrawing a lump sum and not preserving their contribution period.

In 2026, the eligibility age for this group will be 61 years and 6 months for men, and 57 years for women, provided they have contributed to social insurance for less than 15 years. The minimum allowance will be equivalent to the social pension, which is currently 540,000 dong.

Elderly people in Ha Noi relax by Ho Guom. Photo: Ngoc Thanh

A decision from the Ministry of Finance in August clearly outlines the required documents: a request form and the social insurance book. Individuals do not need to resubmit a physical book if their electronic data is fully integrated within the social insurance system. For authorized applications, the dossier must include a legally certified power of attorney.

Workers can declare information and submit their applications online via the public service portal, by post, or directly at the one-stop service counter of their local or provincial social insurance agency. There are no application fees.

Processing time will not exceed 5 working days from the date a complete and valid application is received. Beneficiaries will receive their results online or in person, as registered, including the allowance approval decision, a health insurance card, their social insurance contribution history, and the monthly allowance payment.

The current law stipulates that the benefit period begins from the month a worker reaches retirement age and submits a request for the monthly allowance, continuing until they turn 75. The number of months for which benefits are received is based on the contribution period and the salary used for social insurance contributions. In addition to the allowance, beneficiaries receive health insurance coverage funded by the state budget. The allowance amount will be adjusted when the Government increases pensions.

Nationwide, over 3,4 million individuals receive pensions or allowances at various levels: over 11,500 people receive 20 million dong or more each month; nearly 418,500 receive 10 to under 20 million dong; 1,063 million receive 6 to under 10 million dong; 1,347 million receive 3 to under 6 million dong; 144,850 receive 2,34 to under 3 million dong; and nearly 419,400 receive less than 2,34 million dong.

Hong Chieu