Vietnam’s First Social Insurance Zone in Hanoi announced that new pension eligibility criteria for voluntary social insurance participants will take effect from July 1, 2025, under the Social Insurance Law of 2024.
The updated regulations allow individuals who participate in voluntary social insurance and reach the statutory retirement age with at least 15 years of contributions to receive lifelong pension benefits.
According to the 2019 Labor Law, the retirement age is gradually increasing to 62 for men and 60 for women under normal working conditions. Since January 1, 2021, the retirement age has risen annually by three months for men and four months for women. For 2025, the retirement ages stand at 61 years and three months for men, and 56 years and eight months for women.
However, individuals who joined voluntary social insurance before January 1, 2021, and contributed for at least 20 years remain eligible to retire at 60 for men and 55 for women, unless they opt for other options permitted by law.
From July 1, 2025, voluntary social insurance participants who have paid premiums for at least six months within the 12 months prior to childbirth will be entitled to maternity benefits of 2 million VND (approximately $76.80) per child or per miscarriage after 22 weeks of pregnancy.
In addition, the voluntary social insurance contribution rate will be set at 22% of declared income for pension and death benefit funds, with participants able to make payments periodically or as a lump sum.
These reforms aim to improve social security coverage and pension benefits for voluntary contributors across Vietnam.
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