Subjects eligible for pension and social insurance allowance increase in Vietnam under Decree 75/2024/ND-CP

Subjects eligible for pension and social insurance allowance increase in Vietnam under Decree 75/2024/ND-CP (Internet image)

Subjects eligible for pension and social insurance allowance increase in Vietnam under Decree 75/2024/ND-CP

On June 30, 2024, The Government of Vietnam issued Decree 75/2024/ND-CP adjusting the pension rates, social insurance allowances, and monthly allowances for the subjects receiving pensions, social insurance allowances, and monthly allowances before July 1, 2024, including 09 groups of subjects as follows:

1. Officers, officials, workers, public employees, and laborers (including those with time participating in voluntary social insurance, those retiring from the Nghe An Farmer’s Social Insurance Fund transferred according to Decision 41/2009/QD-TTg; military personnel, public security personnel and cipher workers currently receiving monthly pensions.

2. Commune, ward, and town officials specified in Decree 33/2023/ND-CP, Decree 92/2009/ND-CP, Decree 34/2019/ND-CP, Decree 121/2003/ND-CP and Decree 09/1998/ND-CP.

3. Those receiving monthly labor loss allowances as prescribed by law; those receiving monthly allowances according to Decision 91/2000/QD-TTg, Decision 613/QD-TTg; rubber workers currently receiving monthly allowances according to Decision 206-CP of 1979.

4. Commune, ward, and town officials currently receiving monthly allowances according to Decision 130-CP of 1975 and Decision 111-HDBT of 1981.

5. Military personnel currently receiving monthly allowances according to Decision 142/2008/QD-TTg (amended and supplemented by Decision 38/2010/QD-TTg).

6. Public security personnel currently receiving monthly allowances according to Decision 53/2010/QD-TTg.

7. Military personnel, public security personnel, cipher workers receiving salary like military and public security personnel currently receiving monthly allowances according to Decision 62/2011/QD-TTg.

8. Those receiving monthly labor accident and occupational disease allowances.

9. Those receiving monthly survivor benefits before January 1, 1995.

The subjects (1), (2), (3), (4), (5), (6), and (6) mentioned above retire to receive pensions, social insurance allowances, monthly allowances before January 1, 1995 (including those who have retired to receive labor loss allowances before January 1, 1995, then continue to receive allowances according to Decision 91/2000/QD-TTg, Decision 613/QD-TTg of 2010), after adjustment according to the regulations, with a pension, social insurance allowance, and monthly allowance under 3,500,000 VND/month. (*)

Time and Rate of pension and pocial onsurance allowance increase under Decree 75/2024/ND-CP

Decree 75/2024/ND-CP stipulates the timing and rate of pension increase, social insurance allowance increase, and monthly allowance as follows:

• From July 1, 2024, adjust an additional 15% increase on the June 2024 pension, social insurance allowance, and monthly allowance for the aforementioned subjects.

• From July 1, 2024, those receiving pensions, social insurance allowances, and monthly allowances according to the provision in section (*), after the 15% increase adjustment on the June 2024 pension, social insurance allowance, and monthly allowance, still receiving under 3,500,000 VND/month shall be adjusted as follows:

• An additional 300,000 VND/person/month for those receiving under 3,200,000 VND/person/month;

• Increased to 3,500,000 VND/person/month for those receiving from 3,200,000 VND/person/month to under 3,500,000 VND/person/month.

The pension, social insurance allowance, and monthly allowance after adjustment will be the basis for future pension, social insurance allowance, and monthly allowance adjustments.

More details can be found in Decree 75/2024/ND-CP which comes into force from  July 1, 2024.

Decree 42/2023/ND-CP of June 29, 2023, by The Government of Vietnam adjusting pensions, social insurance allowances, and monthly allowances shall cease to be effective from the date that Decree 75/2024/ND-CP comes into effect.

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