Benefits of officials, public employees, and employees under contract 68 upon downsizing in Vietnam

Benefits of officials, public employees, and employees under contract 68 upon downsizing in Vietnam (Internet image)

Specifically, Section 3 of Official Dispatch 174/UBDT-TCCB clearly states the benefits that officials, public employees, and employees under contract 68 enjoy upon downsizing, as follows:

(1) Downsizing subjects have a maximum age of 5 years lower and a minimum of 2 years lower than the minimum retirement age specified in Clause 3, Article 169 of the Labor Code and have paid social insurance for 20 years or more; including 15 years of working in a profession or job that is heavy, toxic, dangerous or especially heavy, toxic or dangerous on the list issued by the Ministry of Labor, War Invalids and Social Affairs and the Ministry of Health or have worked for 15 years in an area with extremely difficult socio-economic conditions, including working time in a place with a regional allowance coefficient of 0.7 or more, in addition to pension benefits according to the provisions of law on social insurance, you also enjoy the following benefits:

- No deduction of pension rate due to early retirement;

- Receive a 03-month salary allowance for each year of retirement before the minimum age regulations in Clause 3 of Article 169 of the Labor Code;

- Receive a 5-month salary allowance for the first twenty years of work, with full social insurance payment. From the twenty-first year onwards, for each year of work in which social insurance is paid, a subsidy of 1/2 (one-half) month's salary is provided.

(2) Downsizing subjects are 5 years younger than the maximum age and 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, and enjoy retirement benefits according to the provisions of the law on social insurance and the regime specified in Points a and c, Clause 1, Article 8, Decree 108/2014/ND-CP, and receive a subsidy of 03 months' salary for each year of retirement before the retirement age specified in Clause 2, Article 169 of the Labor Code.

(3) Downsizing subjects if their age is 2 years lower than the minimum retirement age specified in Clause 3, Article 169 of the Labor Code and have paid social insurance for 20 years or more; including 15 years of working in a profession or job that is heavy, toxic, dangerous or especially heavy, toxic or dangerous on the list issued by the Ministry of Labor, War Invalids and Social Affairs and the Ministry of Health or have worked for 15 years in an area with extremely difficult socio-economic conditions, including working time in a place with a regional allowance coefficient of 0.7 or higher will enjoy retirement benefits according to the provisions of law on social insurance and will not have their pension rate deducted due to premature retirement.

(4) Downsizing subjects, if their age is 2 years lower than the retirement age specified in Clause 2 of Article 169 of the Labor Code and they have paid social insurance for 20 years or more, will enjoy retirement benefits according to the provisions of the law on social insurance and will not have their pension rate deducted due to premature retirement.

(5) People subject to downsizing have a maximum age 2 years lower than the minimum retirement age specified in Clause 3, Article 169 of the Labor Code and are not eligible to enjoy the premature retirement policy specified in Clause 1, Article 8 of Decree 108/2014/ND-CP, or have an age 2 years lower than the retirement age specified in Clause 2, Article 169 of the Labor Code and are not eligible to enjoy the premature retirement policy specified in Clause 2, Article 8 of Decree 108/2014/ND-CP. If you quit immediately, you will enjoy the following benefits:

- Receive a subsidy of 03 months of the current salary for the job-hunting period;

- Receive a subsidy of 1.5 months' salary for each year of work with a social insurance payment.

>>> More details about downsizing cases  can be found in here.

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