The Ministry of Labor, Invalids, and Social Affairs is drafting an amended Labor Code, which is expected to take effect from 2021. Notably, there are changes regarding the conditions for employees to qualify for retirement pensions.
Article table of contents
To be specific:, in Clause 1, Article 218 of the Draft Labor Code (amending and supplementing Article 54 of the Social Insurance Law 2014), there is a provision that employees who have paid social insurance for 20 years or more are entitled to a pension if they fall into one of the following cases:
- Reaching the retirement age stipulated in Clause 1, Article 170 of the Labor Code (currently, the specified retirement age is 60 for men and 55 for women).
- Reaching the retirement age stipulated in Clause 2, Article 170 of the Labor Code and having had 15 years of working in heavy, hazardous, dangerous, or especially heavy, hazardous, dangerous jobs or occupations as listed by the Ministry of Labor - Invalids and Social Affairs, and the Ministry of Health, or having had 15 years of working in areas with a regional allowance coefficient of 0.7 or higher (currently, the retirement age defined within a certain range is from 55 to 60 for men, and from 50 to 55 for women).
- Employees who are from 10 years to 5 years younger than the retirement age for men as stipulated in Clause 1, Article 170 of the Labor Code and have paid social insurance for 20 years or more, of which 15 years were spent doing coal mining work in underground mines (currently, the retirement age for this case is between 50 and 55 years).
- Persons infected with HIV/AIDS due to occupational accidents.
Additionally, the Draft also proposes to amend pension eligibility conditions for certain subjects such as officers, non-commissioned officers, professional soldiers in the army, and people’s police as stated in Points d and e, Clause 1, Article 2 of the Social Insurance Law 2014.
See detailed content in Article 218 of the Draft Labor Code (amended) expected to take effect from January 1, 2021.
