The Vietnam Social Insurance Agency recently addressed a query regarding retirement benefits for a male worker who has contributed to social insurance for 35 years but is only 57 years old. The question raised was whether he could receive 75% of his pension if he stops contributing and waits until he turns 62.

According to the Vietnam Social Insurance Agency, as per Decree No. 135/2020/ND-CP, the retirement age for men in normal working conditions is set to be 61 years and 6 months by 2026. Therefore, this individual does not yet meet the age requirement to qualify for retirement benefits. However, he may be eligible for unemployment benefits during the waiting period, provided he meets certain conditions outlined in the 2025 Labor Law.

To qualify for unemployment benefits, the individual must have terminated his employment contract legally and not be in a situation that disqualifies him from receiving these benefits. Additionally, he must have contributed to unemployment insurance for at least 12 months within the 24 months preceding the termination of his employment. If he has worked under a short-term contract, he must have contributed for at least 12 months within the 36 months prior to ending his employment.

Moreover, he must submit all necessary documents for unemployment benefits within three months from the date of contract termination. If he does not find new employment within 10 days of submitting his application, he can then proceed to apply for his retirement benefits once he reaches the age of 62.

Upon reaching retirement age, his pension will be calculated based on the regulations set forth in Article 66 of the 2024 Social Insurance Law, which states that the monthly pension will be 75% of the average salary used for social insurance contributions.