Basic Content of the Voluntary Supplemental Retirement Program

23:21, 10/07/2024

This content is stipulated in Circular 19/2018/TT-BLDTBXH issued by the Ministry of Labor, Invalids and Social Affairs on October 30, 2018, guiding the formulation of agreements for voluntary supplemental retirement programs.

Accordingly, the basic content of the voluntary supplementary retirement program in the agreement document stipulated by Circular 19 includes:

- Subjects and conditions for participating in the program.- Commitment to the minimum contribution by the employer when employees participate in the voluntary supplementary retirement program.- The retirement fund management enterprise selected by the employer.- Conditions for enjoying benefits and disbursement options from the retirement fund.

At the same time, Circular 19 also stipulates the duration of the agreement document as follows:

- When signing the agreement document, the employees and the employer must clearly state the duration of the agreement document, the start time, and the end time of participating in the voluntary supplementary retirement program.- The end time of participating in the voluntary supplementary retirement program must not exceed the termination date of the labor contract between the employee and the employer.

See details Circular 19/2018/TT-BLDTBXH, effective from December 15, 2018.

-Thao Uyen-

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