How pensions work in Vietnam
1. Retirement age
Decree 135/2020/ND-CP raises the retirement age gradually from 2021. Under normal working conditions:
- Men: 61 years 6 months in 2026, rising by 3 months a year to 62 from 2028.
- Women: 57 years in 2026, rising by 4 months a year to 60 from 2035.
2. Pension rate (Social Insurance Law 2024)
- Women: 45% for 15 years of contributions, plus 2% for each extra year, up to 75% at 30 years.
- Men: 45% for 20 years, plus 2% for each extra year, up to 75% at 35 years. Men with 15 to 19 years get 40% at 15 years, plus 1% per extra year.
- Extra years: each year beyond the 75% threshold earns a one-off allowance of half a month's average insured salary.
3. Monthly pension
Monthly pension = Pension rate × Average monthly insured salary
Retiring early because of reduced working capacity cuts the rate by 2% for each year before the standard age.
Frequently asked questions
What is the retirement age in Vietnam in 2026?
Under normal working conditions, men retire at 61 years 6 months and women at 57 years in 2026. The age rises by 3 months a year for men until it reaches 62 in 2028, and by 4 months a year for women until it reaches 60 in 2035.
How many years of contributions do I need for a pension?
Since 1 July 2025, the minimum is 15 years of social insurance contributions for both men and women, down from 20 years for men under the previous law.
Can foreigners receive a Vietnamese pension?
Foreign employees who join compulsory social insurance can receive a pension if they meet the age and contribution conditions. Those who leave Vietnam before qualifying can usually claim a one-time social insurance withdrawal instead.
Is the pension paid for life?
Yes. A monthly pension is paid for life and adjusted from time to time by the government. Pensioners also receive a free health insurance card.