The retirement age for workers in Vietnam is set to change in 2027, following a scheduled adjustment. According to the 2019 Labor Code, the retirement age for male workers will increase by 3 months, while female workers will see an increase of 4 months. This means that by 2027, male workers will retire at the age of 61 years and 9 months, and female workers at 57 years and 4 months.

The adjustments are part of a broader plan that aims to raise the retirement age to 62 for men by 2028 and to 60 for women by 2035. Since 2021, the retirement age for normal working conditions has been set at 60 years and 3 months for men and 55 years and 4 months for women, with annual increases of 3 months for men and 4 months for women.

Additionally, the Labor Code provides provisions for workers with reduced capacity or those in particularly heavy, hazardous jobs, allowing them to retire up to 5 years earlier than the standard retirement age. Conversely, workers with high technical expertise may retire up to 5 years later than the stipulated age.

According to the 2024 Social Insurance Law, workers will be eligible for retirement benefits if they meet the age requirements and have contributed to social insurance for at least 15 years. The monthly pension is calculated based on the average salary used for social insurance contributions, with specific percentages applied based on the length of service.

For women, the pension benefit starts at 45% of the average salary for 15 years of contributions, increasing by 2% for each additional year, capped at 75%. For men, the benefit starts at 45% for 20 years, with similar increments. If a worker retires early due to reduced capacity, their pension will be adjusted based on the time retired before the official age, with specific reductions applied.