MoLISA proposes making pension payments more accessible

Your browser does not support the audio element. The proposal, part of the draft revised Law on Social Insurance, looks to reduce the minimum number of years of social insurance payment from  二0 to allow elderly employees with a lower number of years participating in social insurance to enjoy benefits. The Ministry of Labour, War Invalids, and Social Affairs is proposing to lower the minimum number of years for paying social insurance from  二0 to  一 五, making it easier for workers to receive a pension. VNA/VNS Photo

HÀ NỘI — Employees participating in social insurance for  一 五 years or more will be entitled to a pension, according to a new proposal from the Ministry of Labour, War Invalids and Social Affairs (MoLISA).

The proposal, part of the draft revised Law on Social Insurance, looks to reduce the minimum number of years of social insurance payment from  二0 to allow elderly employees with a lower number of years participating in social insurance to enjoy benefits.

Workers in particularly arduous or hazardous jobs are entitled to retirement  五- 一0 years earlier.

Ministries and sectors are weighing up the proposal.

According to the current policy, people with social insurance are only eligible to receive a pension after  二0 years of paying into the scheme.

Lê Đình Quảng, deputy head of the Laws and Policy Department under the Việt Nam General Confederation of Labour, said this condition caused difficulties for people who have a low number of years of payment.

Resolution  二 八 of the Central Government on reforming social insurance policies looks to amend the conditions for pension entitlement by gradually reducing the number of years of social insurance payment from  二0 years to  一 五, and eventually ten years.

Reducing the number of years of social insurance payments is one of the solutions to ensure an increase in the number of people participating in the social insurance system.

People would enjoy higher benefits from more years of payment, Quảng added. — VNS