How much is the retirement pension received in August? When is the retirement pension disbursement period in August?
How much will the pension amount in August be?
According to Article 2 of Circular 06/2023/TT-BLDTBXH on the adjustment of pensions, social insurance allowances and monthly allowances as follows:
* From July 1, 2023, the pension amount, social insurance allowances and monthly allowances for the subjects specified in Clause 1, Article 1 of Circular 06/2023/TT-BLDTBXH are adjusted as follows:
- Increase by 12.5% on the pension amount, social insurance allowances and monthly allowances of June 2023 for the subjects specified in Clause 1, Article 1 of Circular 06/2023/TT-BLDTBXH who have been adjusted according to Decree 108/2021/ND-CP dated December 7, 2021, of the Government of Vietnam on adjusting pensions, social insurance allowances and monthly allowances. Specifically:
| Pension, social insurance allowance, monthly allowance from July 2023 | = | Pension, social insurance allowance, monthly allowance of June 2023 | x | 1.125 || --- | --- | --- | --- | --- |
- Increase by 20.8% on the pension amount, social insurance allowances and monthly allowances of June 2023 for the subjects specified in Clause 1, Article 1 of Circular 06/2023/TT-BLDTBXH who have not been adjusted according to Decree 108/2021/ND-CP dated December 7, 2021, of the Government of Vietnam on adjusting pensions, social insurance allowances and monthly allowances. Specifically:
| Pension, social insurance allowance, monthly allowance from July 2023 | = | Pension, social insurance allowance, monthly allowance of June 2023 | x | 1.208 || --- | --- | --- | --- | --- |
* From July 1, 2023, the pension amount, social insurance allowances and monthly allowances for the subjects specified in Clause 2, Article 1 of Circular 06/2023/TT-BLDTBXH after being adjusted according to the provision in Clause 1, Article 2 of Circular 06/2023/TT-BLDTBXH are adjusted as follows:
- For those with a pension amount, social insurance allowances, and monthly allowances below VND 2,700,000/month:
| Adjusted pension, social insurance allowance, monthly allowance | = | Pension, social insurance allowance, monthly allowance after adjustment according to Clause 1, Article 2 of this Circular | + | VND 300,000/month || --- | --- | --- | --- | --- |
- For those with a pension amount, social insurance allowances, and monthly allowances from VND 2,700,000/month to below VND 3,000,000/month:
| Adjusted pension, social insurance allowance, monthly allowance | = | VND 3,000,000/month || --- | --- | --- |
However, the method of calculating the pension amount mentioned above only includes the pension amount for August. According to Circular 06/2023/TT-BLDTBXH and Decree 42/2023/ND-CP, beneficiaries whose pensions increase will receive the previously unpaid portion for July 2023.
This means that the pension amount in August 2023 for beneficiaries whose pensions have increased according to the policy in Decree 42/2023/ND-CP will include the August pension and the difference from July 2023.
How much will the pension amount in August be? When will the pension for August be paid? (Image from the Internet)
When will the pension be disbursed?
See details in Official Dispatch 2206/BHXH-TCKT in 2023 here.
Official Dispatch 2206/BHXH-TCKT in 2023 provides guidance on the disbursement time for pension, social insurance allowances, and monthly allowances for the August 2023 payment period starting from August 14, 2023.
The monthly disbursement time is stipulated in points a and b, section 4.1.4, Clause 4, Article 7 of the Process attached to Decision 166/QD-BHXH in 2019 as from the 2nd to the 10th of each month for payments at designated locations and from the 11th of the month for payments at transaction points.
However, in August, the disbursement will start from August 14, 2023, later than stipulated. This is to ensure the interests of the people regarding the pension increase according to Decree 42/2023/ND-CP, Circular 06/2023/TT-BLDTBXH which took effect from August 14, 2023, and to collect the additional pension difference for July 2023.
Which agency is responsible for disbursing the pension for August 2023?
Based on Article 93 of the Social Insurance Law of 2014:
Social insurance agency
1. The social insurance agency is a state agency tasked with implementing social insurance policies, managing and using social insurance funds, health insurance, unemployment insurance; inspecting social insurance contributions, unemployment insurance, and health insurance as provided by this Law.
2. The Government of Vietnam specifies the organization, tasks, and powers of the social insurance agency.
Thus, the social insurance agency will be the place to disburse pensions to beneficiaries.
Beneficiaries in any locality will have the local social insurance agency responsible for disbursing the pension for August.
LawNet