The retirement age of employees in 2021 shall be changed according to the Labor Code 2019. In order to guide this regulation, the Government of Vietnam issued the Decree No. 135/2020/NĐ-CP on the precise retirement time and employee's retirement benefits in 2021.
Article table of contents
According to Clause 2 Article 169 of the Labor Code 2019 of Vietnam, retirement ages of employees in normal working conditions shall be gradually increased to:
- 62 for males by 2028; and
- 60 for females in 2035.
Specifically, from 2021, the retirement age of employees under normal working conditions is:
- 60 years 03 months for males; and
- 55 years 04 months for females.
The retirement age shall increase by 03 months for males and 04 months for females after every year.
In order to guide this provision, Article 3 of the Decree No. 135/2020/NĐ-CP of Vietnam’s Government stipulates retirement date and start date for retirement benefits as follows:
1. Retirement date is the last day of the month in which one reaches the full retirement age as prescribed.
If an employee continues in employment after his full retirement age as prescribed, the retirement date is the date of termination of employment.
2. The start date for retirement benefits is the first day of the month following the month of the retirement date.
3. If the employee's dossier does not indicate his day and month of birth, but year of birth only, January 1 of his year of birth shall be used as the basis for determining the retirement date and start date for retirement benefits.
Thus, the exact time of retirement of male employees in 2021 is the end of the last day of the month when he is full 60 years and 3 months; for female employees, it is the end of the last day of the month when she is full 55 years and 4 months. The time to enjoy the retirement regime of male employees in 2021 is the first day of the month when they are 60 years old and 4 months old; for female employees, the first day of the month is 55 years and 5 months.
Concurrently, in order to create conditions for employees to look up their retirement age easily and conveniently in the coming years, Decree No. 135/2020/NĐ-CP of Vietnam’s Government has also set out a roadmap to adjust the employee's retirement age according to regulations as follows:
Compare the month and year of birth of the employee to be retired and enjoy the pension according to the table below:
(This table is in Appendix I issued together with Decree No. 135/2020/NĐ-CP of Vietnam’s Government, view more details here)
Thuy Tram
- Key word:
- Decree No. 135/2020/NĐ-CP
- Labor Code 2019
