From January 01, 2021, Important Notes on Retirement Age

From January 1, 2021, the following notes on retirement age must be known - Illustrative photo

In Article 7 of the Draft Decree, which stipulates the retirement age and conditions for pension entitlement, there are certain notes on retirement age. To be specific:

- Employees who receive a pension before January 1, 2021, will still follow the conditions for pension entitlement prescribed in Article 54 and Article 55 of the Law on Social Insurance.

Employees who receive a pension from January 1, 2021, onwards will follow the conditions for pension entitlement as prescribed in Clause 1, Article 219 of the Labor Code and the provisions of this Decree. In particular, those who reach the retirement age in December 2020 and receive a pension from January 1, 2021, will still follow the conditions prescribed in Article 54 and Article 55 of the Law on Social Insurance.

- From January 1, 2021, the regulations on pension associated with the age conditions for receiving a pension according to Articles 54, 55, Clause 1, Article 73 of the Law on Social Insurance will be implemented according to the retirement age and conditions for receiving a pension stipulated in Article 169, Clause 1, Article 219 of the Labor Code and the provisions of this Decree.

- The age mark to calculate the number of years retiring before the age as a basis for reducing the pension rate as prescribed in Clause 3, Article 56 of the Law on Social Insurance is determined as follows:

- For workers under normal working conditions, the age mark is taken according to Point a, Clause 1, Article 54 of the Law on Social Insurance, amended and supplemented at Point a, Clause 1, Article 219 of the Labor Code and Article 3 of this Decree;- For workers in heavy, hazardous, dangerous jobs or exceptionally heavy, hazardous, dangerous jobs, or working in areas with extremely difficult socio-economic conditions including the time working in areas with an area allowance coefficient of 0.7 or higher before January 1, 2021, the age mark is taken according to Point b, Clause 1, Article 54 of the Law on Social Insurance, amended and supplemented at Point a, Clause 1, Article 219 of the Labor Code and Article 4 of this Decree;- For workers engaged in coal mining in underground mines, the age mark is reduced by 10 years compared to the age prescribed at Point a, Clause 1, Article 54 of the Law on Social Insurance, amended and supplemented at Point a, Clause 1, Article 219 of the Labor Code and Article 3 of this Decree.

For more details, see the Drafthttp://lawnet.vn/vb/nghi-dinh-quy-dinh-tuoi-nghi-huu-6cc48.htmlDecree stipulating some notes on the retirement age, expected to take effect from January 1, 2021.

Le Vy

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