What Rights Do Employees Enjoy When Participating in the Voluntary Retirement Program?

23:21, 10/07/2024

On October 30, 2018, the Ministry of Labor, Invalids, and Social Affairs issued Circular 19/2018/TT-BLDTBXH specifying the rights that workers are entitled to when participating in the voluntary retirement program.

According to Circular 19, it stipulates that when an employee signs the agreement document, the following rights must be ensured:

- Decide on participation or discontinuation of participation in the voluntary supplementary retirement program.- Decide on their contribution level, frequency, duration, and method of contribution, as well as any changes (if applicable), in accordance with the voluntary supplementary retirement program established by the employer and chosen by the employee to join.- Be entitled to all benefits stipulated in the voluntary supplementary retirement program in which they participate, as outlined in the agreement document and in compliance with legal regulations.- Negotiate with the employer to amend the contents of the agreement document or request the employer to fully implement the commitments made in the agreement document and the voluntary supplementary retirement program.- Be entitled to the employer’s contributions and the investment results from these contributions when the employer unilaterally discontinues participation in the voluntary supplementary retirement program.- Unilaterally terminate the execution of the agreement document.- Other rights as agreed with the employer and according to legal regulations.

See details Circular 19/2018/TT-BLDTBXH effective from December 15, 2018.

-Thao Uyen-

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn