According to Article 70.6 of the 2024 Social Insurance Law, in cases where employees meet the conditions to enjoy both monthly retirement benefits and social insurance benefits, they can choose to receive either. Specifically:
According to the Social Insurance Law, there are six cases where employees meet the conditions to enjoy both retirement and social insurance benefits and are allowed to choose.
– Vietnamese citizens who go abroad for permanent residence;
– Vietnamese citizens suffering from critical illnesses such as cancer, paralysis, decompensated cirrhosis, severe tuberculosis, or AIDS;
– Vietnamese citizens with a certified reduction in working capacity of 81% or more; people with severe disabilities;
– Foreign workers suffering from critical illnesses such as cancer, paralysis, decompensated cirrhosis, severe tuberculosis, or AIDS;
– Foreign workers with a certified reduction in working capacity of 81% or more; people with severe disabilities;
– Foreign workers whose labor contracts, work permits, practice certificates, or professional licenses have expired and are not eligible for renewal.
One-time Social Insurance Benefit Amount
The one-time social insurance benefit amount will be calculated based on the number of years of contribution and the basis of social insurance contribution, excluding the amount of state budget support for voluntary social insurance contribution. Specifically, for each year:
– For years contributed before 2014: 1.5 times the average monthly salary on which social insurance contributions were based.
If there are both periods before and after 2014 and there are odd months in the period before 2014, these odd months will be transferred to the period of contribution from 2014 onwards to calculate the one-time social insurance benefit amount;
The one-time social insurance benefit amount will be calculated based on the number of years of contribution and the basis of contribution
– For years contributed from 2014 onwards: 2 times the average monthly salary on which social insurance contributions were based;
– If the social insurance contribution period is less than one year, the benefit amount will be equal to the contributed amount but not exceeding 2 times the average monthly salary on which social insurance contributions were based.
For the following cases, the one-time social insurance benefit amount will be calculated based on the number of years of contribution and the basis of contribution, including the amount of state budget support for voluntary social insurance contribution. The calculation of the benefit amount for each year shall comply with the above regulations. These cases include:
– Those suffering from critical illnesses such as cancer, paralysis, decompensated cirrhosis, severe tuberculosis, or AIDS.
– Those with a certified reduction in working capacity of 81% or more or people with severe disabilities.
