Voters petition for a policy on retirement age according to the age of service to provide artists with the conditions to transition to other suitable careers.
According to the Decree 113/2018/ND-CP amending and supplementing several articles of Decree 108/2014/ND-CP on the policy of streamlining the payroll, the regulations related to early retirement for officials and public employees in Vietnam are as follows:
According to the provisions of the Law on Social Insurance 2014 in Vietnam, employees, who have paid social insurance for at least 20 years and are 60 years old for men, 55 years old for women, are eligible to retire and receive a pension. However, in reality, there are many cases for various reasons where employees may be considered for early retirement. What are those cases?
According to current legal provisions in Vietnam, the retirement age for men is 60 and for women is 55. However, the law still allows a few cases of early retirement. Are they entitled to allowances upon early retirement? What are these allowances? All questions will be answered in the following article.
Currently, there are many cases where an employee in Vietnam may be considered for early retirement for various reasons. What are poplicies and benfits for these employees?
According to current regulations, employees in Vietnam will be entitled to a pension after having contributed to social insurance for 20 years or more and being 60 years or older for men, and 55 years or older for women. However, in the following cases, employees will be allowed to retire early and receive a reduced pension:
Recently, Lawnet has received numerous inquiries from Customers and Members regarding early retirement in Vietnam, such as cases in which early retirement is permitted, the applicable policies, benefits, and notes on early retirement, etc. Lawnet will provide detailed answers to these issues in the article below.
The Draft Decree on regulations for retirement age and pension eligibility conditions is currently open for public comments online and is expected to take effect from January 01, 2021. In addition to stipulating the roadmap for adjusting the retirement age for employees in ordinary working conditions, this Draft also details the roadmap for amendments to the early retirement from 2021.
According to the provisions of Article 55 of the 2014 Law on Social Insurance, starting from 2020, in cases of reduced working capacity, employees in Vietnam with a minimum of 20 years of Social Insurance contributions may be eligible for retirement benefits if they simultaneously meet the conditions regarding the degree of working capacity reduction and the age requirement according to gender.
On the basis of the Labor Code 2019, the Government of Vietnam promulgated Decree 135/2020/ND-CP regulating retirement age, which will officially take effect from January 01, 2021.
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