Official Increase in Pensions in May 2024 According to Resolution 01/NQ-CP 2024, Right?
Officially increase pensions in May 2024 according to Resolution 01/NQ-CP 2024, right?
The Government of Vietnam has just issued Resolution 01/NQ-CP 2024 on the main tasks and solutions to implement the socio-economic development plan and the state budget estimate for 2024.
According to the content in Appendix IV, specific tasks for various sectors and fields in 2024 (attached to Resolution 01/NQ-CP 2024), the Government of Vietnam assigned the Ministry of Labor, War Invalids and Social Affairs to preside over the implementation, and by May 2024, it must complete the Decree to adjust pensions, social insurance benefits, and monthly allowances.
According to the above regulations, it is expected that in May, there will be a Decree to adjust pensions, social insurance benefits, and monthly allowances. As for the adjustment level of pensions, social insurance benefits, and monthly allowances, it will be known precisely about the adjustment level and the time for applying the pension increase adjustment once the Decree is promulgated and takes effect.
Officially increase pensions in May 2024 according to Resolution 01/NQ-CP 2024, right? (Image from the internet)
What are the conditions for receiving a pension currently?
Based on the regulation in Article 54 of the Law on Social Insurance 2014 which is amended by point a of clause 1, Article 219 of the Labor Code 2019, the following is stipulated:
Conditions for enjoying pension
1. Employees specified in points a, b, c, d, g, h, and i of clause 1, Article 2 of this Law, except for the cases specified in clause 3 of this Article, when taking retirement shall have at least 20 years of social insurance contribution and fall into one of the following cases:
a) Reach the retirement age as prescribed in clause 2, Article 169 of the Labor Code;
b) Reach the retirement age as prescribed in clause 3, Article 169 of the Labor Code and have at least 15 years engaged in heavy, hazardous, dangerous jobs or particularly heavy, hazardous, dangerous jobs listed by the Ministry of Labor, War Invalids and Social Affairs or have at least 15 years working in areas with exceptionally difficult socio-economic conditions, including the time working in places with regional allowance coefficients of 0.7 or higher before January 1, 2021;
c) Employees who are at most 10 years younger than the retirement age specified in clause 2, Article 169 of the Labor Code and have at least 15 years working in underground coal mining;
d) Persons infected with HIV due to occupational accidents while performing their assigned duties.
2. Employees specified in points d and e of clause 1, Article 2 of this Law, taking retirement shall have at least 20 years of social insurance contribution and fall into one of the following cases:
a) At most 5 years younger than the retirement age specified in clause 2, Article 169 of the Labor Code, except as otherwise provided by the Law on Professional Military Officers of the Vietnam People's Army, the Law on People's Police, the Law on Cryptographic Operations, the Law on Military Professionals, industrial workers and national defense public employees;
b) At most 5 years younger than the retirement age specified in clause 3, Article 169 of the Labor Code and have at least 15 years engaged in heavy, hazardous, dangerous jobs or particularly heavy, hazardous, dangerous jobs listed by the Ministry of Labor, War Invalids and Social Affairs or have at least 15 years working in areas with exceptionally difficult socio-economic conditions, including the time working in places with regional allowance coefficients of 0.7 or higher before January 1, 2021;
c) Persons infected with HIV due to occupational accidents while performing their assigned duties.
3. Female employees who are officials at the commune level or non-professional workers at commune, ward, and commune-level town participating in social insurance, when retiring with between 15 and less than 20 years of social insurance contribution and reach the retirement age specified in clause 2, Article 169 of the Labor Code, shall enjoy a pension.
4. Conditions on retirement age for some special cases shall be as prescribed by the Government of Vietnam.”
Thus, currently, to enjoy a pension, the conditions prescribed above must be met.
What is the contribution period to enjoy a pension currently?
Based on the regulations in Articles 54, 55, and 73 of the Law on Social Insurance 2014 (amended by clause 1, Article 219 of the Labor Code 2019), it can be seen that to enjoy a pension, participants in social insurance (including compulsory social insurance and voluntary social insurance) need to meet two conditions of retirement age and social insurance contribution period.
Among them, regarding the social insurance contribution period, it requires:
- For participants in compulsory social insurance: At least 20 years of social insurance contribution, except for female workers who are professional and non-professional officials at the commune, ward, and commune-level town, requiring at least 15 years of social insurance contribution.
- For participants in voluntary social insurance: At least 20 years of social insurance contribution.
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