Employees Allowed to Retire Before the Age Without Pension Reduction

17:19, 10/07/2024

Social Insurance Law 2014 stipulates that employees who meet the conditions for early retirement will have their pension rates reduced; for each year of early retirement before the prescribed age, the pension rate will be reduced by 2%. However, there are certain cases where employees are allowed to retire early without a reduction in their pension rate.

Retiring Before the Standard Age Without Pension Reduction

Illustrative image (source: internet)

According to regulations, the retirement age for men is 60 years, and for women is 55 years. However, in some cases, individuals who have not yet reached the standard retirement age can still retire early without a pension reduction. These cases include:

- Men from 55 up to 60 years old, and women from 50 up to 55 years old, who have completed 15 years working in heavy, hazardous, or dangerous jobs, or especially heavy, hazardous, and dangerous jobs as listed by the Ministry of Labor - Invalids and Social Affairs and the Ministry of Health, or have completed 15 years of work in areas with a regional allowance coefficient of 0.7 or higher;

- Workers from 50 up to 55 years old who have paid social insurance for 20 years or more, including at least 15 years working in coal mining in underground mines;

- Individuals infected with HIV/AIDS due to occupational accidents.

Thus, individuals who have not reached the standard retirement age but work in specific occupations or those infected with HIV/AIDS due to occupational accidents can retire early without a pension reduction.

The above content is based on Point b, c, d Clause 1 Article 54 of the Social Insurance Law 2014.

Duy Thinh

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