A delegation of the Vietnam Social Security (VSS) led by Deputy Director General Tran Dinh Lieu visited Portugal from March 15 to 17 during which they had working sessions with the Ministry of Labour, Solidarity and Social Security and social welfare agencies of Portugal.

The working session between the VSS delegation and representatives of the Portuguese Ministry of Labour, Solidarity and Social Security (Source: VSS)

The VSS delegation also included officials of the National Assembly’s Committee for Social Affairs, the Ministry of Finance and VSS agencies such as the Social Insurance Implementation Department, the Contribution Collection Department, the Media Centre, the Governing Body’s Office and the International Cooperation Department.

The Portuguese side included officials of the social security ministry’s strategy and planning office, the Social Security Institute and social security authorities.

Portuguese experts gave an overview of the social security system in their country, noting that the system covers all people. Portugal’s social security system comprises three systems: the citizenship social protection system, the insurance system and the supplementary system. 

The social security contribution rate is set at 34.75 percent of a worker’s earnings (11 percent paid by the worker and 23.75 percent by the employer). 16.01 percent is allocated to old-age benefits, 3.42 percent to disability benefits and 3.67 percent to survivor benefits. For the self-employed, 25.4 percent of reference incomes are for mandatory coverage (old age, disability, maternity, occupational diseases and survivors) and 32 percent for the voluntary scheme (covering sickness).

Retirement age for men and women in Portugal is 66 years and two months, with those who have paid social security contributions for at least 15 years eligible for benefits. Certain jobs (such as miners, sailors and fishermen) have a lower retirement age but the 15 years of payment is mandatory.

Notably, regulations on early retirement in Portugal have been tightened. Currently (beyond the professions mentioned in law), early pension is only possible for long-term unemployed people aged at least 55 (who have made contributions for 20 years – their pensions are then decreased by 4.5 percent a year) or 60 (without reduction).

International Cooperation Department