Below is a notable content in Decree 153/2018/ND-CP on the policy for adjusting pensions for female employees starting to receive pensions in the period from 2018 to 2021 and having paid social insurance for a period from 20 years to 29 years and 6 months in Vietnam.
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Salary Table for Officials and Public Employees from July 1, 2020 in Vietnam
According to this Decree, female employees who start receiving retirement salary from January 1, 2018, to December 31, 2021, with social insurance contribution periods ranging from 20 years to 29 years and 6 months, depending on the duration of social insurance contributions and the starting time of receiving the retirement salary, the retirement salary will be adjusted according to the retirement salary calculated as per the provisions in Clause 2, Article 56 or Clause 2, Article 74 of the 2014 Social Insurance Law plus the adjustment amount, which is calculated by the retirement salary as per the provisions in Clause 2, Article 56 or Clause 2, Article 74 of the 2014 Social Insurance Law at the time they start receiving the salary, multiplied by the corresponding adjustment rate according to the social insurance contribution period and the starting time of receiving the salary. To be specific:
| Social Insurance Contribution Period | Adjustment Rate Corresponding to the Contribution Period and Starting Time of Receiving the Retirement Salary: | |||
| Year 2018 | Year 2019 | Year 2020 | Year 2021 | |
| 20 years | 7.27% | 5.45% | 3.64% | 1.82% |
| 20 years 01 month - 20 years 06 months | 7.86% | 5.89% | 3.93% | 1.96% |
| 20 years 07 months - 21 years | 8.42% | 6.32% | 4.21% | 2.11% |
| 21 years 01 month - 21 years 06 months | 8.97% | 6.72% | 4.48% | 2.24% |
| 21 years 07 months - 22 years | 9.49% | 7.12% | 4.75% | 2.37% |
| 22 years 01 month - 22 years 06 months | 10.00% | 7.50% | 5.00% | 2.50% |
| 22 years 7 months - 23 years | 10.49% | 7.87% | 5.25% | 2.62% |
| 23 years 01 month - 23 years 06 months | 10.97% | 8.23% | 5.48% | 2.74% |
| 23 years 07 months - 24 years | 11.43% | 8.57% | 5.71% | 2.86% |
| 24 years 01 month - 24 years 06 months | 11.88% | 8.91% | 5.94% | 2.97% |
| 24 years 07 months - 25 years | 12.31% | 9.23% | 6.15% | 3.08% |
| 25 years 01 month - 25 years 06 months | 10.91% | 8.18% | 5.45% | 2.73% |
| 25 years 07 months - 26 years | 9.55% | 7.16% | 4.78% | 2.39% |
| 26 years 01 month - 26 years 06 months | 8.24% | 6.18% | 4.12% | 2.06% |
| 26 years 07 months - 27 years | 6.96% | 5.22% | 3.48% | 1.74% |
| 27 years 01 month - 27 years 06 months | 5.71% | 4.29% | 2.86% | 1.43% |
| 27 years 07 months - 28 years | 4.51% | 3.38% | 2.25% | 1.13% |
| 28 years 01 month - 28 years 06 months | 3.33% | 2.50% | 1.67% | 0.83% |
| 28 years 07 months - 29 years | 2.19% | 1.64% | 1.10% | 0.55% |
| 29 years 01 month - 29 years 06 months | 1.08% | 0.81% | 0.54% | 0.27% |
Thus, in 2020, for female employees in Vietnam who start receiving their retirement salary, with a social insurance contribution period from 20 years to 29 years and 6 months, depending on the duration of social insurance contributions, the adjusted retirement salary will be calculated as follows:
Adjusted Retirement Salary = Retirement Salary calculated according to the provisions in the 2014 Social Insurance Law + Adjustment Amount
In which:
Adjustment Amount = Retirement Salary calculated according to the provisions in the 2014 Social Insurance Law at the time of starting to receive the salary x Adjustment Rate corresponding to the social insurance contribution period in the table above
In summary, if female employees retire in 2020 and have a social insurance contribution period from 20 years to 29 years and 6 months, they will receive an additional amount calculated by the retirement salary according to the provisions in the 2014 Social Insurance Law at the time of starting to receive the retirement salary multiplied by the adjustment rate corresponding to the social insurance contribution period, in addition to the retirement salary received according to the provisions in the 2014 Social Insurance Law.
See more content: Retiring early from 2021, officials and public employees and employees suffer a lot HERE.
Nguyen Trinh
- Key word:
- employee
- Vietnam
- social insurance
