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Over 50% of workers retire earlier than the expected age

by VTV414 January 2019 Last updated at 09:11 AM

VTV.vn - Due to increased life expectancy in Vietnam, many people have been receiving more retirement pension than what they are entitled to.

This will have an impact on the balance of social insurance funds. According to a report from the Vietnam Social Security, with the retirement age of 60 for males and 55 for females, male and female workers have been retiring 4 and 2.5 years earlier, respectively. With the average period of social insurance collection at 28 years for males and 23 years for females, only 40.5% of workers retire at 60 and 55, while more than half have been retiring before the expected age.

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