The current Labor Code stipulates that the retirement age for workers in normal conditions will increase by three and four months annually until it reaches 62 for men by 2028 and 60 for women by 2035. From 1/1/2026, the retirement age for men will be 61 years and 6 months, and for women, it will be 57 years.

Employees may retire up to 5 years earlier than the standard age if they have reduced working capacity, work in particularly arduous, toxic, or hazardous occupations, or are employed in areas facing exceptional difficulties.

Individuals with high professional or technical qualifications and those in certain special circumstances may retire at an older age, but not more than 5 years beyond the standard age at the time of retirement.

Retirement age roadmap until 2035. *Graphics: Viet Chung*

The age for pension eligibility will also align with the increased retirement age. Male workers must be 61 years and 6 months old, and female workers must be 57 years old, with 15 years of social insurance contributions, to qualify for a pension.

The pension rate for female workers aged 57 years in normal working conditions is calculated at 45% of the average salary used for social insurance contributions, corresponding to 15 years of participation. Each subsequent year of contribution adds 2%, up to a maximum rate of 75%, equivalent to 30 years of social insurance contributions.

For male workers aged 61 years and 6 months, the benefit rate is 45% of the average salary used for contributions, corresponding to 20 years of social insurance contributions. For those contributing from 15 years to under 20 years, the monthly benefit rate is 40% for 15 years of participation. After that, each additional year of contribution adds 1%. From the 20th year onwards, the accumulated rate increases by 2%.

Early retirement applies to individuals with a reduced working capacity of 61% or more. The early retirement period is capped at 5 years for those with a reduction between 61% and under 81%, and at 10 years for those with a reduction exceeding 81%. For each year of early retirement, the benefit rate is reduced by 2%. If retiring less than 6 months early, there is no reduction; if retiring from 6 months to under 12 months early, a 1% reduction applies.

Workers in normal conditions who have reached retirement age and contributed to mandatory social insurance for 14 years and 6 months to under 15 years, lacking a maximum of 6 months, may make a one-time payment for the remaining months to be eligible for a pension. The monthly contribution rate is 22% of the combined employee and employer contributions before leaving employment, directed to the Pension and Survivor's Benefits Fund.

Under current regulations, individuals aged 75 and above who do not receive a pension or social insurance allowance are entitled to a social pension allowance of 500,000 VND per month. The government permits localities to use their budgets to provide additional support. In Hanoi, from 1/1/2026, individuals aged 75 will receive an allowance of 650,000 VND per month, which is higher than the national standard, as per a Hanoi People's Council Resolution from late November.

Hanoi seniors relax at Thanh Cong flower garden. *Photo: Ngoc Thanh*

In 2024, the national average life expectancy is 74,7 years, with men at 72,3 and women at 77,3, according to the General Statistics Office. The average monthly pension for Vietnamese citizens is nearly 7 million VND, including the armed forces. For civilian workers alone, the average benefit is lower, approximately 6,2 million VND, primarily increasing due to state adjustments.

Nearly 3,4 million people nationwide receive monthly pension and social insurance benefits. Vietnam's pension benefit rate is among the highest in Southeast Asia, reaching a maximum of 75% of the average monthly social insurance contribution salary. However, the actual pension amount for Vietnamese individuals is considered average, as social insurance contribution levels have not been high, with increases mainly driven by adjustments to the basic salary and minimum wage.

Hong Chieu