Recommendations on Promoting Employment for Older People and Building a Multi-Pillar Pension System, Aiming to Ensure Income Security for Older People in Vietnam

Old age security always holds a particularly important position in the social security system in any country in the world. In the context of the rapidly aging population trend globally, the issue of ensuring income security for the elderly has become a major concern of many countries. In the changing socio-economic context, many countries have made efforts to reform pension systems and employment policies for the elderly; towards the goal of achieving completeness and sustainability of the pension system and ensuring income for the elderly. The general trend is to replace the single-pillar pension system with a multi-pillar pension system, develop jobs for the elderly, and encourage the creation of suitable jobs for the elderly. In this article, to systematize the theoretical basis, analyze international experience, and evaluate the current state of income security of the elderly in Vietnam through analyzing retirement and employment regimes; The author used secondary data collection methods and used statistical analysis methods, comparative synthesis methods, and systematic approaches. On that basis, the author has proposed recommendations on promoting employment for the elderly and building a multi-layered pension system, ensuring income security for the elderly in Vietnam.