Income Guarantee for People beyond Working Age: A Case Study in Vietnam

The researchers studied the pension insurance model in some countries around the world and found that, with this model, all people of retirement age (beyond the working age) have income/pension to ensure their minimum standard of living. After conducting research on the income of workers beyond working age in Vietnam, the research team found that many people who reach retirement age do not have a stable source of income/pension; only one out of four people receives pension and one out of eight people receive social allowances (from the state budget with low entitlement) while the rest have to guarantee their income on their own. The article studies the pension insurance model in some countries and the current situation of pension insurance model in Vietnam. It proposes a model so that every worker beyond working age has an income/pension, which can guarantee a stable life for them and contribute to ensure social security.