Viet Nam's new Social Insurance Law, passed in June 2024, represents a major step forward in protecting millions of citizens who previously had little financial security. This breakthrough builds on ground work laid by the Joint SDG Fund's support for social protection reforms that ended in 2022 but continues to transform lives nation wide.
The law creates a more inclusive pension system with lower barriers to entry. By reducing the required contribution time from 20 to 15 years and making non-contributory pensions available at age 75 instead of 80, about one million more Vietnamese citizens—many of them elderly with limited resources—now have a safety net for their later years.
The reforms also extend protection to people who were previously overlooked, including small business owners, part-time workers, and those in informal employment. This expansion reaches an estimated three million additional workers who have fallen between the cracks of existing systems.
For everyday Vietnamese citizens, these changes bring real benefits. Monthly support payments have increased by nearly 40%, providing more meaningful assistance to those who need it most. Older people, casual workers, and those without formal employment now have pathways to financial security that didn't exist before.
Viet Nam has committed to continuing this progress as a model country in the Global Accelerator on Jobs and Social Protection, developing a long-term plan for social programmes with reliable funding sources. Digital improvements initially tested during the COVID-19 pandemic have been expanded nationwide, making it easier for people to receive their benefits. Support services have also been strengthened at the local level, ensuring vulnerable people can access the help they need in their communities.
Viet Nam's story shows how the Joint SDG Fund’s targeted support can create lasting changes that continue long after the initial programme ends—building systems that protect people today and for generations to come.
Note:
All joint programmes of the Joint SDG Fund are led by UN Resident Coordinators and implemented by the agencies, funds and programmes of the United Nations development system. With sincere appreciation for the contributions from the European Union and Governments of Belgium, Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, The Netherlands, Norway, Poland, Portugal, Republic of Korea, Saudi Arabia, Spain, Sweden, Switzerland and our private sector funding partners, for a transformative movement towards achieving the SDGs by 2030.
