As of July 1, 2025, new regulations regarding the methods of pension disbursement will officially take effect, granting participants in compulsory social insurance the right to choose their preferred method of pension receipt.
=> See more: Adjustments to witness, social insurance and monthly supply
Photo 1. From July 1, 2025, Three Methods of Pension Receipt for Participants in Compulsory Social Insurance_Hotline: 097 211 8764
Pursuant to Article 93 of the 2024 Law on Social Insurance, which governs the forms of pension and social insurance benefit payments, participants in compulsory social insurance are entitled to choose one of the following three methods of pension receipt:
(1) Via the beneficiary’s personal account held at a commercial bank or a branch of a foreign bank legally established and operating in Vietnam;
(2) Directly from the social insurance authority or from a service organization authorized by the social insurance authority;
(3) Through their employer.
In addition, the Law also addresses changes in the method and location of receiving pensions or monthly social insurance benefits.
Specifically, under Article 82, individuals who are currently receiving pensions or monthly social insurance benefits and wish to change their payment method or location due to a change in domestic residence must submit a written request to the social insurance authority responsible for disbursement.
Accordingly, from July 1, 2025, participants in compulsory social insurance shall have the right to select one of the three aforementioned methods of receiving their pension, thereby ensuring convenience and accommodation of their individual circumstances. These options include: bank transfer, direct payment from the social insurance authority or an authorized service provider, and payment through the employer. Furthermore, the new law facilitates flexibility for pensioners and monthly social insurance beneficiaries by allowing them to change their preferred method or place of receipt when relocating within the country. This provision upholds the beneficiaries’ rights and enhances the adaptability of the payment process.
The 2024 Law on Social Insurance shall take effect as of July 1, 2025.
=> See more: From August 14, 2023, people receive new pensions and benefits.
Photo 2. Free legal advice fee_Hotline: 097 211 8764
Socio-Economic General Department - TLK Law Firm
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