Proposal to increase pension, social insurance allowance, and monthly allowance from July 1, 2023 in Vietnam

Proposal to increase pension, social insurance allowance, and monthly allowance from July 1, 2023 in Vietnam (Internet image) 

1. Proposal to increase pension, social insurance allowance, and monthly allowance from July 1, 2023 in Vietnam

According to Clause 1, Clause 2, Article 2 of the Draft Decree, the pension, social insurance allowance, and monthly allowance will increase from July 1, 2023, as follows:

- Increase by 12.5% on the pension, social insurance allowance and monthly allowance of June 2023 for the subjects specified in Clause 1, Article 1 of the Draft Decree on the adjustment of pension, social insurance allowance and monthly allowance has been adjusted according to Decree 108/2021/ND-CP dated December 7, 2021 of the Government on the adjustment of pension, social insurance allowance and monthly allowance.

- Increase by 20.8% on the pension, social insurance allowance and monthly allowance of June 2023 for the subjects specified in Clause 1, Article 1 of the Draft Decree on adjustment of pension, social insurance allowance and monthly allowance have not been adjusted according to Decree 108/2021/ND-CP.

In addition, from July 1, 2023, the pension, social insurance allowance, and monthly allowance will be adjusted as follows:

- Persons with pensions, working capacity loss allowances, and monthly allowances as prescribed in Clause 2, Article 1 of the Draft Decree, after adjusting under the provisions of Clause 1 of the Draft Decree to a level below VND 3,000,000/month, the increase shall be adjusted as follows:

+ An additional 300,000 VND/person/month for those who have a pension, social insurance allowance, or a monthly allowance of VND 2,700,000/person/month or less;

+ Increase to 3,000,000 VND/person/month for those with a pension, social insurance allowance, and monthly allowance from 2,700,000 VND/person/month to less than 3,000,000 VND/person/month.

+ Particularly for the subjects specified at Point h, Clause 1, Article 1 of the Draft Decree, no adjustment shall be made according to this provision.

- The pension, social insurance allowance and monthly allowance after adjustment according to the provisions of this Article shall be the basis for calculating the adjustment of pension and allowance in subsequent adjustments.

2. 09 subjects eligible for adjustment on pensions, social insurance allowances, and monthly allowances in Vietnam

According to Article 1 of the Draft Decree, 09 subjects eligible for adjustment on pensions, social insurance allowances, and monthly allowances in Vietnam, include:

(1) Cadres, civil servants, workers, public employees, and employees (including those who have time to participate in voluntary social insurance, retirees from Nghe An farmer's social insurance fund who transferred according to Decision 41/2009/QD-TTg; military personnel, people's police, and people doing cipher work are receiving monthly pensions.

(2) Commune, ward, and township officials specified in Decree 92/2009/ND-CP, Decree 34/2019/ND-CP, Decree 121/2003/ND-CP, and Decree 09/1998/ND-CP amending Decree 50/CP.

(3) Persons who are receiving monthly allowance for loss of working capacity as prescribed by law; people who are receiving monthly allowance under Decision 91/2000/QD-TTg, Decision 613/QD-TTg; rubber workers are enjoying monthly allowance under Decision No. 206-CP.

(4) Officials of communes, wards, and townships who are receiving monthly allowances according to Decision 130-CP and Decision 111-HDBT.

(5) Military personnel are enjoying the monthly allowance according to Decision 142/2008/QD-TTg (amended by Decision 38/2010/QD-TTg).

(6) People's Public Security is receiving a monthly allowance under Decision 53/2010/QD-TTg.

(7) Soldiers, people's police, and people doing cipher work receive salaries like soldiers and people's police, who are receiving monthly allowances according to Decision 62/2011/QD-TTg.

(8) Persons enjoying a monthly occupational accident and disease allowance or monthly survivorship allowance before January 1, 1995.

(9) The subjects specified in 08 cases above take leave to enjoy pensions, social insurance benefits, monthly allowances before January 1, 1995 after making adjustments under the provisions of Article 2 of the Draft Decree with a monthly pension, social insurance allowance or allowance of less than VND 3,000,000/month.

More details can be found in the Draft Decree on adjustment of pension, social insurance allowance and monthly allowance

Do Thanh Long

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE