Early Retirement Due to Staffing Streamlining for Female Official Born in July 1970
According to Clause 2, Article 1 of Decree No. 143/2020/ND-CP, the regulations are as follows:
"2. Subjects eligible for staff reduction as stipulated in Article 6 of this Decree, if they are from a minimum of 2 years to a maximum of 5 years younger than the retirement age prescribed in Clause 2, Article 169 of the Labor Code and have at least 20 years of social insurance contribution, shall be entitled to a pension as per the provisions of the social insurance laws and the policies specified in points a and c, Clause 1 of this Article, and shall receive an allowance equivalent to 3 months' salary for each year of early retirement compared to the retirement age defined in Clause 2, Article 169 of the Labor Code.
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- Subjects eligible for staff reduction as stipulated in Article 6 of this Decree, if they are 2 years younger than the retirement age prescribed in Clause 2, Article 169 of the Labor Code and have at least 20 years of social insurance contribution, shall be entitled to a pension as per the provisions of the social insurance laws and shall not be subject to a reduction in the pension rate due to early retirement."
Furthermore, as per Article 169 of the Labor Code 2019, the retirement age for workers under normal working conditions is adjusted according to a schedule until it reaches 62 years for male workers by 2028 and 60 years for female workers by 2035.
Starting from 2021, the retirement age for workers under normal working conditions is 60 years and 3 months for male workers and 55 years and 4 months for female workers; thereafter, it will increase by 3 months annually for male workers and 4 months annually for female workers.
Therefore, in the case of Ms. born in July 1970, by the age of 57 years and 8 months (i.e., September 2028), she will be eligible for retirement. According to Decree 143, she can retire under the staff reduction policies if she is a maximum of 5 years younger than the retirement age. Hence, if she meets the conditions according to the staff reduction policies, she can retire as early as 52 years and 8 months.
Sincerely!
