Over 20.8 trillion VND spent on new pensions and social insurance benefits

The Vietnam Social Security (VSS) on August 14 began the payment of pensions, social insurance benefits, and monthly allowances according to the new rates.

More than 3.3 million people will benefit from increases in pension and social insurance benefits according a Government Decree effective from July 1, 2023.

A total payment of about 20.8 trillion VND (872.3 million USD) will be made, including new pension and social insurance benefits for August 2023 and unclaimed payments from July 2023.

From September 2023 onwards, the VSS will pay pensions and monthly allowances according to the routine schedule in July 2023.

The VSS is coordinating with the Vietnam Post to pay pensions and social insurance benefits via bank accounts and in cash.