The Ministry of Home Affairs in Vietnam has put forward a proposal to amend the social insurance law, suggesting that the age for receiving social pension benefits be lowered to 70 years. This proposal is part of a draft aimed at revising certain provisions of the Social Insurance Law.

Currently, the law stipulates that the standard age for receiving social pension benefits is 75 years, with a provision for those from poor and near-poor households to begin receiving benefits at 70 years. The ministry's proposal aims to make the system more flexible and responsive to the economic and social conditions of the country.

Statistics from the Department of Social Assistance indicate that following the previous adjustment, which lowered the eligibility age from 80 to 75 years, approximately 500,000 more individuals began receiving social pension benefits. This change has raised the percentage of retirees receiving monthly pensions to nearly 42% by 2025. However, this figure still falls short of the target set by the Central Committee, which aims for about 60% of retirees to receive pensions and benefits by 2030.

To address this gap, the Ministry of Home Affairs has proposed two options in the draft law. The first option maintains the current regulations, while the second option allows for a gradual reduction of the retirement age to 70 years, contingent on the government's assessment of economic growth and budgetary capabilities.

The ministry is seeking input on this proposal, which is expected to be presented to the National Assembly for further consideration. The goal is to ensure that more elderly individuals can access financial support during their retirement years.