When will the pension and social insurance allowances for July 2024 be paid? What is the official conclusion of the Politburo on salary reform and pension adjustment from July 1, 2024?

When will the pension and social insurance allowances for July 2024 be paid in Vietnam?

Based on Article 7 of the Procedure for Resolving and Paying Social Insurance Benefits, as stated in Decision 166/QD-BHXH 2019, the schedule for pension and social insurance allowance payments is as follows:

Resolution and Payment

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4.1.4. Monthly pension and social insurance allowance payments for beneficiaries through the Postal System according to the signed Agreement.

a) Payments at payment points: From the 2nd to the 10th of each month, payment shall be organized for a minimum of 6 hours per day at all payment points. Payment shall only be completed before the 10th for payment points that have completed the payment for the number of beneficiaries listed by the Social Insurance agency.

b) Payments at district postal transaction points: From the 11th of the month, payment shall continue at payment points that are the postal transaction points until the 25th of the month.

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The monthly schedule for pension and social insurance allowance payments begins on the 2nd of each month.

Therefore, the detailed schedule for pension and social insurance allowance payments for July 2024 is as follows:

- Payments at payment points: From July 2nd to July 10th, 2024, payment will be organized for a minimum of 6 hours per day at all payment points.

Note: Payment will only be completed before the 10th for payment points that have completed the payment for the number of beneficiaries listed by the Social Insurance agency.

- Payments at district postal transaction points: From July 11th, 2024, payment will continue at payment points that are the postal transaction points until the 25th of the month.

Based on the situation, the timing of pension and social insurance allowance payments at payment points may be subject to change. The Social Insurance agency will provide notifications regarding any adjustments to ensure reasonable payment of pensions and social insurance allowances for workers.

When will the pension and social insurance allowances for July 2024 be paid? What is the official conclusion of the Politburo on salary reform and pension adjustment from July 1, 2024? - image from internet

What are regulations on unified adjustment of pension and social insurance allowance increase from July 1, 2024 in Vietnam?

According to Section 3 of Conclusion 83-KL/TW 2024 of the Politburo, the conclusions of the Politburo regarding salary reform are as follows:

Adjust the pension and social insurance allowance by increasing it by 15% (from June 2024).

+ For individuals receiving pensions before 1995: if the adjusted amount is lower than 3.2 million VND per month, it will be increased by 0.3 million VND per month. If the adjusted amount is between 3.2 million VND and below 3.5 million VND per month, it will be adjusted to 3.5 million VND per month.

+ Adjust the preferential allowance for people with meritorious services according to the standard allowance from 2,055,000 VND to 2,789,000 VND per month (an increase of 35.7%), while maintaining the proportional relationship with the current levels of preferential allowances for people with meritorious services.

+ Adjust the social assistance allowance according to the standard assistance allowance from 360,000 VND to 500,000 VND per month (an increase of 38.9%).

Furthermore, expand the use of accumulated resources from the central and local budget's salary reform to cover the adjustment of pensions, social insurance allowances, preferential allowances for people with meritorious services, social assistance allowances, social security policies, and streamlining of the workforce.

What is the official conclusion of the Politburo on salary reform and pension adjustment from July 1, 2024 in Vietnam?

On June 21, 2024, the Politburo issued Conclusion 83-KL/TW 2024 on salary reform; adjustment of pensions, social insurance allowances, preferential allowances for people with meritorious services, and social assistance allowances from July 1, 2024.

Based on the consideration of the report from the Party Central Committee's Internal Affairs Department on salary reform; adjustment of pensions, social insurance allowances, preferential allowances for people with meritorious services, and social assistance allowances from July 1, 2024, as well as the opinions of relevant agencies, the Politburo concluded as follows:

- Adhere to the Party's policy guidelines in Resolution 27-NQ/TW 2018, Resolution 28-NQ/TW 2018, and current legal provisions to implement salary policy reform and related policies in a suitable, step-by-step, cautious, and fiscally feasible manner.

- Ensure a balanced, fair, and equal correlation among salary and allowance beneficiaries; harmonize social relationships, control social differentiation, and ensure the well-being of the people during the development process.

The contents of the Central Committee's resolutions that are clear and meet the necessary conditions for implementation will be executed immediately. Issues that are still difficult or have shortcomings will continue to be carefully studied, reviewed, evaluated for suitability, and gradually improved. Rushing the implementation should be avoided to create social consensus and prevent major disruptions.

- Improve the lives of salary and allowance beneficiaries, create motivation to enhance productivity and work efficiency, contribute to the country's socio-economic development, and achieve progress and social justice.