Vietnam adds private pension as silver tide rises

Communist nation's share of elderly to triple, but public reserves called robust

20220113 people in Vietnam

Last year marked the first time workers could put part of their paychecks into private retirement accounts, on top of the share contributed to the state pension in Vietnam. © Reuters

LIEN HOANG, Nikkei staff writer

January 17, 2022 12:05 JST

HO CHI MINH CITY -- When communist Vietnam recently introduced private retirement funds, it was taking a step not only closer to capitalism, but also toward changing a young pension system that some worry may buckle if citizens get old before getting rich.

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