Yes, Vietnam has a two-tier old-age pension system comprising a contributory social insurance scheme for workers and a smaller, tax-financed social pension for the elderly without other income. As of July 1, 2025, the requirement to receive a monthly pension drops to 15 years of contributions, and a monthly allowance of 500,000 VND (~US$19.75) is provided to citizens over 70 without other pensions.
From July 1, 2025, Vietnamese citizens aged 70–75 from poor or near-poor households, who do not receive pensions or monthly social insurance benefits, will qualify for government-funded social pension benefits. Citizens aged 75 and above without any pension or monthly social insurance benefit will also be eligible.
Nordic countries lead with higher average pensions
The average old-age pension per beneficiary also exceeded €30,000 in two Nordic countries: Norway and Denmark. It was also significantly above the EU average in Sweden (€22,436) and Finland (€21,085).
Voluntary pension plan - Vietnamese citizens aged 15 years or older and who are not subject to contribution to the compulsory pension fund can participate in this voluntary pension regime. These two pension plans are managed by the Vietnam Social Insurance Fund and receive the state budget's financial support.
Vietnam is facing a ‘grey’ wave: How will it cope with an ageing population?
Do they have social security in Vietnam?
Social insurance in Vietnam is a government-regulated system designed to provide financial protection and support for workers. This system ensures that individuals and their families can receive benefits if they face situations such as illness, work-related accidents, maternity, or retirement.
To answer this question, yes, $1000/month is a strong income in Vietnam, especially for the locals. The average salary in Vietnam is approximately $320 per month, so if you earn $1000, you are earning in the top 10-15%. Let's look at what $1000/month can afford: Housing (1-bedroom apartment in city centre): $300-500.
Among the problems when living in Vietnam that a foreigner might face, the language barrier muts be at the top of the list. Only a few Vietnamese people know foreign languages, including international languages such as “English”, but foreigners can try learning some basic sentences to help them get around easily.
Based on data from Việt Nam Social Security, Luật Khoa Magazine compiled the average monthly pension and number of recipients from 2021 to 2024, revealing a significant upward trend. The average pension increased by nearly 48%, rising from 4.2 million VND in 2021 to a high of 6.2 million VND in 2024.
How much money can you have in the bank and still get a full pension?
Your savings don't affect your basic State Pension, but they do impact means-tested benefits like Pension Credit, where having over £10,000 means a reduction of £1 for every £500 over that limit, reducing your Pension Credit. For other benefits like Universal Credit, the capital limit is £16,000, but this is usually for those under State Pension age, so for pensioners, Pension Credit rules are key, with no upper limit but reduced payments past £10,000.
Whether $1 million is enough to retire depends on your lifestyle, health, and income strategy — rising costs and longer lifespans mean many retirees will need more money to live comfortably. It's the million-dollar question.
Iceland leads the way in Europe in terms of average State Pension provision. Here are the top 10 ranking countries for average pension expenditure: Iceland: €35,959 (£30,251) Luxembourg: €31,835 (£26,778)
The amount of pension a German citizen receives varies based on individual circumstances, such as their earnings history and contributions to the public pension system. On average, retirees can expect to receive around 48% of their last income as a pension.
£300k in a pension isn't a huge amount to retire on at the fairly young age of 60, but it's possible for certain lifestyles depending on how your pension fund performs while you're retired and how much you need to live on.
How do people who are retired receive their pensions in Vietnam?
Pensions in Vietnam are provided through a state pension scheme called social insurance, and private life insurance-type schemes. The pension system of Vietnam was ranked 57th out of 70 economies according to a 2020 Allianz report.
The high political determination and commitment of the government in fighting against poverty and hunger as well as its citizens and Vietnamese abroad has played a critical role. In the last two decades, many policies have been promulgated with huge governmental funds.
