Vietnam must tackle elderly employment, aging, and wealth inequality
As one of the fastest-aging countries in the world, Vietnam is facing a host of challenges as its people would grow old before getting rich.
As one of the fastest-aging countries in the world, Vietnam is facing a host of challenges as its people would grow old before getting rich. (Photo: VietnamPlus)
Hanoi (VNA) – As one of the fastest-aging countries in ꧂the world, Vietnam is facing a host of challenges as its people woulไd grow old before getting rich.
With a low proportion of the elderly receiving pensions, the National Assembly and the Government have issued new policies on pensions, social benefits, and employment to ensure income for elderly people.
Filling gap in social benefits
According to Vietnam Social Security (VSS)’s statistics for 2023, only 2.7 million elderly people in the country receive pensions from the social insurance fund, accounting for just 16.77% of the total elderly population. Their average monthly pension is 4.75 million VND (190.27 USD).
To expand social welfare for the elderly, the newly passed 2024 Social Insurance Law supplements regulations on retirement allowance and monthly benefits for those who have participated in social insurance but do not qualify for a full pension.
A VNPost employee distributes pensions to the elderly. (Photo: VietnamPlus)
Nguyen Duy Cuong, Deputy Director of the Social Insurance Department at the Ministry of Labour, Invalids, and Social Affairs (MoLISA), said the law reduces the qualifying age for social pensions to 75 from 80. For those in poor or near-poor households, the eligible age is between 70 and 75.
The monthly social retirement allowance is determined by the Government based on the country’s socio-economic conditions and the state budget.
With the adjustments of the law, set to take effect on July 1, 2025, an estimated additional 1.2 million elderly people without pensions or social insurance benefits will receive monthly social retirement payments.
Elderly people receive health checkups. (Photo: VietnamPlus)
The law also stipulates a monthly allowance for labourers who are not eligible for a pension and have not yet reached the age for social retirement benefits. Vietnamese citizens who reach the retirement age but have not met the minimum 15 years of social insurance contributions and are under 75 years old will receive a monthly allowance. This is provided they do not opt for a one-time social insurance payout or preserve their contributions. Notably, during the period of receiving this monthly allowance, the State will cover their health insurance contributions.
Employment support for the elderly
In fact, social assistance policies aimed at supporting the elderly without pensions often provide only minimal aid, insufficient to fully cover their income gaps. The lack of savings, absence of pensions, or low pensions and social benefits are the primary reasons forcing many seniors to continue working to make a living.
According to the General Statistics Office, up to 78.91% of the elderly in Vietnam are self-employed or work in household businesses. Additionally, 54.63% of them are employed in the agro-forestry-fishery sector characterised by low productivity and heavy reliance on natural conditions. Furthermore, 40.47% are engaged in simple, unskilled jobs.
Despite many seniors still in the workforce, the MoLISA has noted the lack of regulations supporting older labourers in transitioning and finding jobs in the context of an aging population. As a result, they have very few job options, primarily focusing on roles such as security personnel, domestic helpers, and caregivers for the elderly.
Elderly individuals receive pensions and social insurance benefits. (Photo: VietnamPlus)
The elderly in Vietnamese society find it hard to seek suitable jobs as labour regulations remain quite limited, and a dedicated job market for the group has yet to emerge.
In the revised draft Employment Law, the ministry has included a specific section dedicated to employment support for the elderly. Accordingly, older labourers who are still capable and willing to work will receive state assistance in training, certification of national vocational skills, employment counseling, job seeking, and access to loans.
Dr. Dinh Huu Phi, Director of the Vietnam Institute of Elderly Studies, said such employment policies for the elderly not only meet their needs and aspirations but also harnesses their experience and knowledge.
As of 2023, Vietnam had 16.1 million elderly people, or about 17% of its population. (Photo: VietnamPlus)
As of 2023, Vietnam had 16.1 million elderly people, or about 17% of its population. By 2030, this figure is expected to rise to over 20 million, marking a critical period as the country approaches its aging population phase from 2024 to 2036. Currently, it ranks among the top 10 countries with the fastest aging populations in the world./.
With an average elderly person having three chronic diseases and at risk of functional decline, building a strong foundation for healthcare and quality of life for the senior population becomes the responsibility of not only the Government but the entire society.
Deputy Prime Minister Tran Hong Ha asked localities to ensure resources for the implementation of policies towards the elderly, while addressing a hybrid meeting of the Vietnam National Committee on Ageing (VNCA) on March 12.
Prime Minister Pham Minh Chinh praised the efforts by senior citizens across the country in overcoming difficulties and promoting economic production during a conference in Hanoi on November 16 to honour 273 representing elderly people with outstanding performance the field of economy nationwide.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
The Mekong Delta province of Tien Giang is intensifying efforts to combat illegal, unreported and unregulated (IUU) fishing as part of the country’s goal of having the European Commission’s “yellow card” warning lifted.
Throughout its 80-year history, the VNA has remained at the forefront of information dissemination. It has consistently delivered timely, accurate, and objective reports on both domestic and international events, serving the Party’s leadership, the State’s management, and the public’s demand for official news.
With strong support from local authorities, businesses, organisations, and residents, the province has successfully built or repaired 10,707 homes for disadvantaged households, including war veterans, families of martyrs, ethnic minority people, and low-income residents.
Throughout its resistance against colonialists and imperialists, Vietnam developed a revolutionary press that has served as a benchmark for just and legitimate causes worldwide.
Founded in 1842, the Vienna Philharmonic is regarded as a cultural ambassador of Austria, with prestigious conductors like Mahler and Karajan who shape its legacy. Its New Year’s Concert, broadcast to over 90 countries annually, stands as a global symbol of classical music excellence.
