Adjustment of Levels of Monthly Salary Subject to Social Insurance Contributions by Year in Vietnam

20:37, 11/07/2024

On December 29, 2017, the Ministry of Labor, War Invalids and Social Affairs of Vietnam issued Circular 32/2017/TT-BLDTBXH stipulating the adjustment levels for monthly salaries and incomes that are subject to social insurance in Vietnam.

Monthly salary on which social insurance premiums in Vietnam are based for the subjects specified in Clause 1, Article 1 of Circular 32 is adjusted according to the following formula:

Adjustment Formula:

Monthly salary on which social insurance premiums are based after adjustment for each year	=	Total monthly salary on which social insurance premiums are based for each year	X	Adjustment rate of salary on which social insurance premiums are based for the corresponding year

Adjustment Rate:

Year	Before 1995	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006
Adjustment Rate	4.56	3.87	3.66	3.54	3.29	3.15	3.20	3.21	3.09	3.00	2.78	2.57	2.39
Year	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018
Adjustment Rate	2.21	1.79	1.68	1.54	1.30	1.19	1.11	1.07	1.06	1.04	1.00	1.00

Note: Employees who have time contributing to social insurance under the state's salary policy and have time contributing to social insurance under the employer's salary policy, the monthly salary on which social insurance premiums are based for those employees who start participating in social insurance under the state's salary policy from January 01, 2016, onwards and the monthly salary on which social insurance premiums have been paid under the employer's salary policy are adjusted according to the above regulations.

Refer to the Circular 32/2017/TT-BLDTBXH, effective from February 15, 2018.

- Thanh Lam -

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