New: 07 regulations related to retirement pension in Vietnam will be annulled from January 01, 2021

Specifically, according to Article 8 of the Decree No. 135/2020/NĐ-CP of the Government of Vietnam, from January 01, 2021, the previous regulations contrary to this Decree and the following regulations will be invalidated, specifically the following 07 provisions:

- Abolishing the provision on conditions for pension enjoyment of Article 6 of the Decree No. 115/2015/NĐ-CP;

- Abolishing the provision on the statutory retirement ages as the basis for determination of the number of years of early retirement on which a decrease in pension rate of Clause 3 Article 7 of the Decree No. 115/2015/NĐ-CP;

- Abolishing the provision that each employee having a total payment period of voluntary and compulsory social insurance of 20 years or longer shall have the standard retirement age of 60 years of age for male and 55 years of age for female in Clause 2 Article 11 of the Decree No. 115/2015/NĐ-CP;

- Abolishing the provision on eligibility requirements for retirement pension that a person who has paid voluntary social insurance premiums for at least 20 years will receive retirement pension at the age of 60 (for men) or 55 (for women) in Point a Clause 2 Article 5 of the Decree No. 134/2015/NĐ-CP;

- Abolishing the provision on subjects and conditions for monthly retirement pension of Soldiers and People's Police in Point a and b Clause 1 Article 8 of the Decree No. 33/2016/NĐ-CP;

- Abolishing the provision on the statutory retirement ages as the basis for determination of the number of years of early retirement on which a decrease in pension rate of Soldiers and People's Police in Clause 3 Article 9 of the Decree No. 33/2016/NĐ-CP;

- Abolishing the retirement regime for officers, professional soldiers, non-commissioned officers and soldiers of the People's Army; officers, professional non-commissioned officers and officers, professional and technical non-commissioned officers of the People's Public Security etc. that have previously paid voluntary social insurance according to the provisions of Clause 2 Article 12 of the Decree No. 33/2016/NĐ-CP.

Above are 07 regulations related to retirement pension that will be abolished from January 01, 2021 from LAWNET to Customers and Members. To better understand Decree No. 135/2020/NĐ-CP, Customers and Members can see details HERE.

Ty Na

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