Retirees receive pension at a post office. Photo: VNA
As many as 95 percent of Vietnamese labourers are worried about poverty and having insufficient funds once retired, according to a recent survey by the Global Aging Institute (GAI) in collaboration with Prudential Corporation Asia.
The survey, dubbed “From Challenge to Opportunity”, unveiled its findings from a major study on retirement attitudes and expectations in East Asia. The data uncovered that in all 10 markets, the share of workers who have the concern is as large, or larger, than the share of retirees.
An enormous majority of respondents in every market – ranging from 77 percent in China to 90 percent in Hong Kong, Indonesia, and the Philippines – agree that the government should require workers to save more for their own retirement.
In most markets, a majority of respondents also agreed that the government should raise the retirement age, increase taxes to offer a basic pension benefit to the elderly in financial need and require workers to contribute more to pay for government pension programmes, it said.
Dr. Richard Jackson, Founder and President of GAI, said t he findings show that retirees in East Asia find themselves at a difficult juncture. Traditional family support networks have been weakening, yet adequate government and market substitutes have not yet been put in place.
In every market, the share of modern workers who expect to receive income during retirement from insurance and annuity products and/or stocks, bonds or mutual funds is rising.
In China, Hong Kong, Malaysia, Singapore, the Republic of Korea, Taiwan and Thailan, between 60 and 80 percent of workers expect to receive income from these financial assets.
At the low end of the spectrum are the Philippines, Indonesia and Vietnam, where less than 25 percent of today’s workers will turn to those options for financial stability.
Donald Kanak, Chairman of the Prudential Corporation Asia, said that rapid aging in Asia is an irreversible trend and poses many challenges for today’s societies, adding that closing the growing gap in old-age protection requires public and private sector solutions.
Meanwhile, General Secretary of the Vietnam Insurers Association Phung Dac Loc noted that the number of people purchasing insurance in Vietnam exceeds 10 million, who support 2.3 million retirees. He also warned of the risk of insurance fund collapses in 2032.-VNA
Minister of Labour, War Invalids and Social Affairs Pham Thi Hai Chuyen said that aside from raising the retirement age, there have been many solutions proposed to maintain the balance of revenues and expenses of the social insurance fund.
Voluntary pension insurance should be implemented as soon as possible because the delay would make life of retirees more difficult, a labour ministry official has said.
Deputy Prime Minister Vu Duc Dam has urged the Ministry of Health to establish additional geriatric wards in hospitals and coordinate with the Vietnam Social Insurance to intensify healthcare access for the elderly – who currently number 9.4 million, accounting for 10.45 percent of the total population.
Workers under certain circumstances could opt to receive a social insurance lump sum, rather than waiting until retirement age to collect insurance payments in the form of monthly pensions, as stated in a resolution ratified by National Assembly deputies on June 22.
Labourers who are ineligible for retirement pensions because they have not made compulsory social insurance payments for the required amount of years may choose to get a one-off lump sum or continue to receive monthly payments if a Government proposal gets approval from the National Assembly later this month.
The programmes have brought about positive changes to rural infrastructure, comprehensively improved the material and spiritual lives of farmers, and contributed to Vietnam's economic restructuring, said PM Pham Minh Chinh.
The festival highlighted the contributions and robust development of Vietnam's revolutionary press over the past century while promoting press products and showcasing the creativity of Vietnamese journalists.
The programme on sustainable poverty reduction has achieved its annual targets for reducing the poverty rate as assigned by the National Assembly and the Government. It has fulfilled five specific objectives and five five-year goals, and met nine out of 12 indicators related to addressing basic social service shortages.
UNICEF stands ready to support the Government in implementing this important law and in continuing to invest in teachers as the cornerstone of a resilient, inclusive, and high-quality education system for all children.
PM Pham Minh Chinh highlighted how Vietnam's revolutionary press has continuously evolved and strengthened over the past century, affirming its role as a sharp and vital political, cultural, and ideological weapon serving the Fatherland and the people in the glorious revolutionary cause of the Party.
Vietnamese Consul General in Fukuoka Vu Chi Mai highlighted the growing demand for Vietnamese workers in Kyushu, especially in Fukuoka, Oita, and Saga prefectures. Currently, the region employs about 35,000 Vietnamese manual workers and over 5,000 IT engineers.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
Retirees receive pension at a post office. Photo: VNA
