What are policies for public non-business unit employees who have redundantly converted in Vietnam?

This is a notable content mentioned at the Decree No. 150/2020/NĐ-CP on converting non-business units into joint stock companies in Vietnam.

Viên chức đơn vị sự nghiệp công chuyển đổi dôi dư, Nghị định 150/2020/NĐ-CP

According to Article 38 of the Decree No. 150/2020/NĐ-CP of the Vietnam’s Government, policy for redundant employees are prescribed as follows:

- For public employees and managers working at converted public non-business units: At the time of valuation, the unit that cannot arrange jobs at the joint-stock company according to the labor use plan is entitled to the policy of downsizing the payroll according to the Government's regulations.

- For employees working under labor contracts of converted public non-business units: At the time of valuation, the unit that cannot arrange a job at a joint-stock company according to the labor use plan is entitled to the policy for redundant employees when rearranging the State-owned single-member limited liability company in accordance with the Government's regulations.

Thus, according to the above regulation, public employees working at converted public non-business units that are unable to arrange jobs at joint-stock companies according to the labor use plan will be entitled to the policy of downsizing the payroll in accordance with the Decree No. 143/2020/NĐ-CP of the Vietnam’s Government, specially as follows:

- Early retirement policy;

- Policy on switching to work at organizations without regular salary from the state budget;

- Policy on immediate severance.

Besides, in case the employee working under the labor contract of the converted public non-business unit which cannot arrange a job at the joint-stock company according to the labor use plan, he/she will be entitled to the policy for redundant employees when reorganizing a State-owned single-member limited liability company in accordance with the Government's regulations.

View more details at the Decree No. 150/2020/NĐ-CP of the Vietnam’s Government, effective from February 02, 2021.

Ty Na

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