Many countries in Southeast Asia are facing the risk of an aging population. As a result, subsidies for the elderly will gradually become a burden on governments.

About 400,000 people who retired before 1993 are paid pensions that are far below the regional minimum wage. Most of them struggle with their lives, especially if they are very old and have many diseases.

From April 16 to May 10, more than 440,000 people in Hanoi will receive both their April and May monthly pension and social insurance allowance one time at home.

 Pension and monthly allowance will be increased by 6.92 per cent from July, and more than three million people are eligible for the revised pension and allowance, according to a draft decree by the Ministry of Labour, Invalids and Social Affairs.

VietNamNet Bridge - A preschool teacher, Truong Thi Lan from Ha Tinh province, who receives VND1.3 million in pension a month was the subject of heated debate in the ongoing NA session. 

Viet Nam would struggle to pay millions of its retirees pensions soon in the future as only about 20 per cent of the workforce are currently contributing to the social insurance fund.

Retired officers, workers and servicemen will receive an 8% increase of their monthly pension, allowance and social insurance benefits from January 1, 2015, according to a decree recently issued by the Government.

"If wages continue to rise, it is forecast that by 2023, with about 10 million pensioners, the social insurance fund will have only enough money to pay retirement pension, not enough for investment," warned a senior official.