How much older age can an employee retire than the prescribed age in Vietnam? What are conditions to retire above the prescribed age in Vietnam?

How much older age can an employee retire than the prescribed age in Vietnam?

It is known that according to the new labor law effective from 2021, in some cases employees can retire earlier than the prescribed age. So are there any cases where employees can retire later than retirement age under normal working conditions? Are there any conditions that must be met?

Answer: Pursuant to the provisions of Clause 4, Article 169 of the 2019 Labor Code and Article 6 of Decree 135/2020/ND-CP, employees are allowed to retire at an age higher than the age prescribed under normal working conditions.

To retire at a higher age, employees must meet the following conditions:

- Workers with high professional and technical qualifications and some special cases;

- Must agree with the employer to continue working after retirement age.

- Retirement at a higher age but not more than 5 years old.

Note: Termination of labor contracts and settlement of social insurance benefits for employees retiring at a higher age are carried out in accordance with the provisions of Section 3 Chapter III of the 2019 Labor Code and regulations on the law on social insurance.

How much older age can an employee retire than the prescribed age in Vietnam?

I know of some cases, such as professionals, being able to retire at a higher age than workers in normal working conditions. So if I can retire later, how many years later will it be? Please answer.

Answer: Pursuant to the provisions of Clause 4, Article 169 of the 2019 Labor Code and Article 6 of Decree 135/2020/ND-CP, employees are allowed to retire at an age higher than the age prescribed under normal working conditions.

To retire at a higher age, employees must meet the following conditions:

- Workers with high professional and technical qualifications and some special cases;

- Must agree with the employer to continue working after retirement age.

At the same time, Clause 4, Article 169 of the 2019 Labor Code also determines that employees can retire at a higher age but not more than 5 years old compared to the retirement age under normal working conditions.

Thus, according to the above regulations in Vietnam, in case you meet the conditions to retire at a higher age, the maximum number of years you can retire late will not exceed 5 years. Please compare with your age to determine when to receive pension in case of late retirement.

How much older age can an employee retire than the prescribed age in Vietnam? What are conditions to retire above the prescribed age in Vietnam? (Image from the Internet)

What is premature retirement due to downsizing for female civil servants born in July 1970 in Vietnam?

I was born in December 1970 and am a female civil servant. If I am eligible for early retirement under the staff streamlining regime, when can I retire as soon as possible? Thanks to support under Decree 143.

Answer: According to Clause 2, Article 1, Decree 143/2020/ND-CP has the following regulations:

"2. Subjects of downsizing prescribed in Article 6 of this Decree if their age is lower than the maximum of 5 years and at least 2 years lower than the retirement age specified in Clause 2, Article 169 of the Labor Code Active and have paid social insurance for 20 years or more, are entitled to retirement benefits according to the provisions of the law on social insurance and the regimes specified in Points a and c, Clause 1 of this Article and receive subsidies as 03 months salary for each year of early retirement compared to the retirement age specified in Clause 2, Article 169 of the Labor Code.
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4. Persons who are downsizing specified in Article 6 of this Decree are 2 years younger than the retirement age specified in Clause 2, Article 169 of the Labor Code and have paid social insurance for 20 years or more. above, they will enjoy retirement benefits according to the provisions of the law on social insurance and will not have their pension rate deducted due to early retirement."

And in Article 169 of the 2019 Labor Code, retirement ages of employees in normal working conditions shall be gradually increased to 62 for males by 2028 and 60 for females in 2035.

From 2021, the retirement age for employees under normal working conditions is 60 years and 03 months for male employees and 55 years and 04 months for female employees; After that, each year increases by 03 months for male employees and 04 months for female employees.

Therefore, in the case of your born in July 1970, by the time you are 57 years and 8 months old (September 2028), she will reach retirement age. Comparing with Decree 143, you can retire under the downsizing regime if your age is lower than the maximum of 5 years old. Therefore, if you meet the conditions under the downsizing regime, you can retire as early as 52 years and 8 months in Vietnam.

Best regards!