Draft Decree on adjusting pensions, social insurance benefits, and monthly allowances is currently in the public consultation period and is expected to take effect from July 1, 2020.
Article table of contents
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From July 01, 2020, this Decree adjusts an 7.382% increase on the pension, social insurance benefits, and monthly allowances of June 2020 for the beneficiaries of pensions, social insurance benefits, and monthly allowances before July 01, 2020, specifically including:
- Officials, public servants, workers, public employees, and laborers (including those who have participated in voluntary social insurance, retirees from the Nghe An Farmers' Social Insurance Fund transferred under Decision 41/2009/QD-TTg); military personnel, public security officers, and persons doing cipher work receiving monthly pensions.
- Commune, ward, and commune-level town officials as regulated in Decree 92/2009/ND-CP, Decree 121/2003/ND-CP, and Decree 09/1998/ND-CP currently receiving pensions and monthly allowances.
- Individuals receiving monthly loss of working capacity benefits as legally prescribed, individuals receiving monthly allowances under Decision 91/2000/QD-TTg, Decision 613/QD-TTg; rubber workers on monthly allowances.
- Commune, ward, and commune-level town officials on monthly allowances as per Decision 130/CP and Decision 111/HDBT.
- Military personnel on monthly allowance policies under Decision 142/2008/QD-TTg and Decision 38/2010/QD-TTg.
- Public security officers on monthly allowances according to Decision 53/2010/QD-TTg.
- Military personnel, public security officers, and persons doing cipher work receiving salaries as military personnel and public security officers, receiving monthly allowances according to Decision 62/2011/QD-TTg.
- Individuals receiving monthly work-related accident and occupational disease allowances.
It can be seen that if the contents of this draft are passed, compared to recent years, the adjustment level for pensions, social insurance benefits, and monthly allowances from July 01, 2020, will increase significantly. Specifically, the adjustment level from July 01, 2018, was only 6.92% on the pension, social insurance benefits, and monthly allowances of June 2018; from July 01, 2019, it was an increase of 7.19% on the pension, social insurance benefits, and monthly allowances of June 2019, and from July 01, 2020, this adjustment level increased by 7.382% on the pension, social insurance benefits, and monthly allowances of June 2020.
For details, see HERE.
Nguyen Trinh
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