What is the Retirement Age for Preschool Teachers in 2024 in Vietnam?

What is the Retirement Age for Preschool Teachers in 2024 in Vietnam?

Based on Clause 1, Article 46 of the Law on Public Officials 2010, it is stipulated as follows:

Retirement Scheme

1. Public officials are entitled to pensions as prescribed by labor laws and social insurance laws.

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The retirement age for public employees is currently governed by the Labor Code 2019.

According to Article 169 of the Labor Code 2019, the following is stipulated:

Retirement Age

1. Employees who meet the required duration of social insurance contributions as prescribed by social insurance laws are entitled to pensions upon reaching the retirement age.

2. The retirement age for employees under normal working conditions is adjusted progressively to 62 years for males by 2028 and 60 years for females by 2035.

Starting from 2021, the retirement age for employees under normal working conditions is 60 years and 3 months for males and 55 years and 4 months for females; thereafter, it increases by 3 months annually for males and 4 months annually for females.

3. Employees with reduced work capacity; those engaged in special, heavy, hazardous, or dangerous jobs; those working in arduous, hazardous, or dangerous jobs; and those working in areas with exceptionally difficult socioeconomic conditions can retire at a lower age but no more than 5 years earlier than the stipulated age at the time of retirement, unless otherwise specified by law.

4. Employees with high-level professional or technical qualifications and certain special cases can retire at a higher age but no more than 5 years later than the stipulated age at the time of retirement, unless otherwise specified by law.

Thus, the retirement age in 2024 for public preschool teachers under normal working conditions is 61 years for males and 56 years 4 months for females.

Note:

- Preschool teachers with reduced work capacity; those engaged in special, heavy, hazardous, or dangerous jobs; those working in arduous, hazardous, or dangerous jobs; and those working in areas with exceptionally difficult socioeconomic conditions can retire at a lower age but no more than 5 years earlier than the stipulated age at the time of retirement, unless otherwise specified by law.

- Preschool teachers with high-level professional or technical qualifications and certain special cases can retire at a higher age but no more than 5 years later than the stipulated age at the time of retirement, unless otherwise specified by law.

Retirement Age for Preschool Teachers in Vietnam in 2024 (Image from the Internet)

When Can Preschool Teachers Retire in Vietnam?

Based on Clause 7, Article 59 of Decree 115/2020/ND-CP, the following is stipulated:

Retirement Procedures

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7. Regulations related to retirement decisions:

a) At least 3 months before the retirement date as prescribed in Clauses 1, 2, 3, and 4 of this Article, the managing authority or unit must issue a retirement decision;

b) Based on the retirement decision specified in point a of this clause, the managing authority or unit must cooperate with the social insurance organization to carry out the procedures for the public employee to receive social insurance benefits upon retirement;

c) The public official set to retire must hand over documents, records, and ongoing work to the assigned successor at least 3 working days before the retirement date;

d) From the retirement date specified in the retirement decision, the public official retires and receives social insurance benefits as prescribed.

Thus, at least 3 months before the retirement date, the managing authority or unit must issue a retirement decision for preschool teachers.

From the retirement date specified in the retirement decision, preschool teachers retire and receive social insurance benefits as prescribed.

How Much Will Preschool Teachers' Pensions Increase from July 1, 2024?

Based on Article 2 of Decree 75/2024/ND-CP, the following is stipulated:

Time and Adjustment Rate

1. From July 1, 2024, increase by 15% over the pension, social insurance benefits, and monthly allowances of June 2024 for the subjects specified in Clause 1, Article 1 of this Decree.

2. From July 1, 2024, individuals receiving pensions, social insurance benefits, and monthly allowances as specified in Clause 2, Article 1 of this Decree, after the adjustment as prescribed in Clause 1 of this Article, with a benefit level lower than 3,500,000 VND/month will be adjusted as follows: Increase by 300,000 VND/person/month for those with a benefit level under 3,200,000 VND/person/month; raise to 3,500,000 VND/person/month for those with a benefit level from 3,200,000 VND/person/month to under 3,500,000 VND/person/month.

3. The pension, social insurance benefits, and monthly allowances after adjustment as prescribed in this Article serve as the basis for future adjustments of pensions, social insurance benefits, and monthly allowances.

Thus, from July 1, 2024, preschool teachers' pensions will be increased by 15% over the pension, social insurance benefits, and monthly allowances of June 2024.

Additionally, for preschool teachers who retired before January 1, 1995, with a pension less than 3,500,000 VND/month, the adjustment is as follows:

- Increase by 300,000 VND/person/month for those with a benefit level under 3,200,000 VND/person/month;

- Raise to 3,500,000 VND/person/month for those with a benefit level from 3,200,000 VND/person/month to under 3,500,000 VND/person/month.