Eligibility requirements for the enjoyment of pension will change from January 1, 2021

Vietnam: Eligibility requirements for the enjoyment of pension will change from January 1, 2021 - Illustrative image

Under Article 6 of the Draft Decree, the eligibility requirements for the enjoyment of pension in Vietnam are specified as follows:

*** The eligibility requirements for the enjoyment of pension for employees as stipulated in Clauses 1, 2, and 4, Article 2 of the Law on Social Insurance shall follow the provisions of Clause 1, Article 219 of the Labor Code. Coal mining in underground mines is regulated in Appendix No. 02 issued with this Decree.

*** Regarding the eligibility requirements for the enjoyment of pension for employees who have paid compulsory and voluntary social insurance premiums:

- For employees who have paid compulsory and voluntary social insurance premiums for a total of 20 years or more, the age requirement for enjoyment of pension shall follow Point c, Clause 1, Article 219 of the Labor Code and Article 3 of this Decree, except for the case stipulated in Point b, Clause 2 of this Decree.

- For employees who have paid compulsory social insurance premiums for 20 years or more, the age requirement for enjoyment of pension shall follow Points a, b, Clause 1, Article 219 of the Labor Code and Articles 3, 4 of this Decree.

- For female employees who are full-time officials at the commune level or part-time employees at communes, wards, or towns, have paid compulsory social insurance premiums for 15 years to less than 20 years, meet the retirement age stipulated in Clause 2, Article 169 of the Labor Code, and retained the compulsory social insurance premium period while continuing to pay voluntary social insurance premiums, they are entitled to a pension upon request.

Further details may be found in the Draft Decree stipulating the eligibility requirements for the enjoyment of pension, expected to take effect from January 1, 2021.

Le Vy

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