Conditions for Retirement According to the 2019 Labor Code
Retirement Conditions According to the Labor Code 2019
Article 169 of the Labor Code 2019 stipulates:
Employees who meet the required duration of social insurance contributions as prescribed by the law on social insurance shall be entitled to a pension upon reaching the retirement age.
The retirement age of employees in normal working conditions shall be adjusted incrementally until such age reaches 62 for male employees in 2028 and 60 for female employees in 2035.
Starting from 2021, the retirement age of employees in normal working conditions will be 60 years and 3 months for men; 55 years and 4 months for women. Thereafter, the retirement age will increase by 3 months each year for men and 4 months each year for women.
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Article 54 of the Law on Social Insurance 2014 stipulates that one of the conditions for receiving a pension is that the employee must have 20 years of social insurance contributions when retiring.
Thus, according to the spirit of the Labor Code 2019 and the Law on Social Insurance 2014, the retirement conditions are that employees must have 20 years of social insurance contributions and be 62 years old for male employees and 60 years old for female employees (adjusted incrementally).
What is the Retirement Age in 2022?
Based on Clause 2 of Article 169 of the Labor Code 2019, the retirement age is stipulated as follows:
- The retirement age of employees in normal working conditions is adjusted incrementally until such age reaches 62 for male employees in 2028 and 60 for female employees in 2035.
- Starting from 2021, the retirement age of employees in normal working conditions is 60 years and 3 months for men and 55 years and 4 months for women; then each year, it will increase by 3 months for men and 4 months for women.
The retirement age in 2022 will be increased by 3 months compared to 2021, specifically 60 years and 6 months for male employees and 55 years and 7 months for female employees.
Can You Retire Early When Working in Areas with Exceptionally Difficult Socio-Economic Conditions?
Based on Clause 1 of Article 5 of Decree 135/2020/ND-CP, it is stipulated:
Employees can retire at a lower age than the retirement age in normal working conditions as stipulated in Clause 3, Article 169 of the Labor Code, specifically as follows:
- Employees in the following cases can retire at an age lower than the stipulated retirement age but no more than 5 years earlier than the retirement age specified in Article 4 of this Decree, unless otherwise provided by law:
+ Employees with 15 years or more of working in heavy, hazardous, dangerous, or exceptionally heavy, hazardous, dangerous jobs on the list issued by the Ministry of Labor - Invalids and Social Affairs.
+ Employees with 15 years or more of working in areas with exceptionally difficult socio-economic conditions, including the time working in areas with a regional allowance coefficient of 0.7 or more before January 1, 2021.
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Thus, according to the above regulation, if you work in areas with exceptionally difficult socio-economic conditions for 15 years or more, you can retire 5 years earlier than the retirement age stipulated in the Labor Code.
Sincerely!
