How to Switch the Method of Receiving Social Insurance Payments from Cash to Bank Card? When Will the September Pension be Received?
Procedures for Changing the Form of Receiving Social Insurance Benefits from Cash to Bank Card
According to subsection 1.2, subsection V, section I, part B of the administrative procedures to be replaced and abolished within the jurisdiction of Vietnam Social Security as issued under Decision 222/QD-BHXH 2021, the procedure for changing the form of receiving social insurance benefits from cash to a bank card is as follows:
- Step 1. Prepare and submit the application dossier
Beneficiaries prepare the dossier in accordance with section 1.3, subsection V, section I, part B of the administrative procedures to be replaced and abolished within the jurisdiction of Vietnam Social Security as issued under Decision No. 222/QD-BHXH; submit the dossier to the post office or social insurance agency, clearly stating: personal account number (or ATM card), the bank where the account is opened; or the new place to receive monthly social insurance benefits. If there are initial ATM card issuance costs, beneficiaries submit receipts to the Provincial Post Office or District Post Office for payment as prescribed.
- Step 2. The social insurance agency receives the dossier and processes it according to regulations
- Step 3. Receive the processed results
Beneficiaries will receive the fees for the initial issuance of the ATM card (in the case of initial ATM card issuance).
How to switch the form of receiving social insurance benefits from cash to bank card? When will September pension payments be received?
When will September pension payments be received?
Based on Decision 166/QD-BHXH 2019 of Vietnam Social Security on issuing procedures for processing and disbursing social insurance and unemployment benefits.
From the 2nd to the 10th of the month, social insurance payments are organized for at least 6 hours/day at all payment points; payments conclude before the 10th for points that have disbursed benefits to all listed beneficiaries as per the list provided by the social insurance agency.
However, as September 2nd coincides with the National Day holiday, the governmental agencies will be on holiday from September 1, 2023, to the end of September 4, 2023. Therefore, the anticipated pension disbursement schedule for September will be moved to start from September 5, 2023.
Citizens can follow the announcements from their local social insurance agencies for detailed information.
How is the Average Monthly Salary for Social Insurance Contributions Determined?
According to Article 62 of the Law on Social Insurance 2014:
Average Monthly Salary for Social Insurance Contributions Used to Calculate Pensions and Lump-sum Benefits
1. Employees who were subject to state-prescribed wage policies and had the entire period of social insurance contributions based on these wage policies shall calculate the average monthly salary of the years of social insurance contributions before retirement as follows:
a) For those participating in social insurance before January 1, 1995, the average monthly salary of the last 5 years before retirement shall be calculated;
b) For those participating in social insurance from January 1, 1995, to December 31, 2000, the average monthly salary of the last 6 years before retirement shall be calculated;
c) For those participating in social insurance from January 1, 2001, to December 31, 2006, the average monthly salary of the last 8 years before retirement shall be calculated;
d) For those participating in social insurance from January 1, 2007, to December 31, 2015, the average monthly salary of the last 10 years before retirement shall be calculated;
dd) For those participating in social insurance from January 1, 2016, to December 31, 2019, the average monthly salary of the last 15 years before retirement shall be calculated;
e) For those participating in social insurance from January 1, 2020, to December 31, 2024, the average monthly salary of the last 20 years before retirement shall be calculated;
g) For those participating in social insurance from January 1, 2025, onwards, the average monthly salary for the entire period of social insurance contributions shall be calculated.
2. Employees who had the entire period of social insurance contributions based on wages determined by the employer shall calculate the average monthly salary for the entire period of social insurance contributions.
3. Employees who have contributions under both state-prescribed wage policies and employer-determined wages shall calculate the average monthly salary based on the combined periods. The period under state wage policies shall be calculated based on subsection 1 of this Article.
4. the Government of Vietnam shall provide detailed regulations for this Article.
Thus, the determination of the average monthly salary for social insurance contributions is implemented as stipulated above.
LawNet
