All Policies Available for Early Retirees

The subjects of downsizing as stipulated in Article 6 of Decree 108/2014/ND-CP, if aged 50 to 53 for men, or aged 45 to 48 for women, with a social insurance contribution period of 20 years or more (of which at least fifteen years in occupations or jobs that are strenuous, hazardous, harmful as listed by the Ministry of Labor - Invalids and Social Affairs and the Ministry of Health, or at least fifteen years working in areas with a regional allowance coefficient of 0.7 or higher), besides receiving pension as prescribed by the social insurance law, are entitled to the following policies:

a) No reduction in pension percentage due to early retirement;

b) An allowance of 03 months’ salary for each year of early retirement compared to the minimum age stipulated in point b clause 1 Article 54 of the Social Insurance Law;

c) An allowance of 05 months’ salary for the first twenty years of work, with full social insurance contributions. From the twenty-first year onwards, each working year with social insurance contributions is entitled to an allowance of 1/2 month’s salary.

Special cases

1. The subjects of downsizing as stipulated in Article 6 of Decree 108/2014/ND-CP, if aged 55 to 58 for men, or aged 50 to 53 for women, with a social insurance contribution period of 20 years or more, are entitled to:

- Receive pension as prescribed by the social insurance law;- The regime stipulated in points a, c above, and an allowance of 03 months' salary for each year of early retirement compared to the provision in point a clause 1 Article 54 of the Social Insurance Law.

2. The subjects of downsizing as stipulated in Article 6 of Decree 108/2014/ND-CP, if aged above 53 but under 55 for men, or aged above 48 but under 50 for women, with a social insurance contribution period of 20 years or more, including at least fifteen years in occupations or jobs that are strenuous, hazardous, harmful as listed by the Ministry of Labor - Invalids and Social Affairs and the Ministry of Health, or at least fifteen years working in areas with a regional allowance coefficient of 0.7 or higher, are entitled to receive pension as prescribed by the social insurance law and no reduction in pension percentage due to early retirement.

3. The subjects of downsizing as stipulated in Article 6 of Decree 108/2014/ND-CP, if aged above 58 but under 60 for men, or aged above 53 but under 55 for women, with a social insurance contribution period of 20 years or more, are entitled to receive pension as prescribed by the social insurance law and no reduction in pension percentage due to early retirement.

The above-mentioned contents are based on Article 8 of Decree 108/2014/ND-CP and Clause 7 Article 1 of Decree 113/2018/ND-CP.

-Duy Thinh-

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