Vietnam: Excel file on the list of 23 provinces as extremely disadvantaged areas that employees shall be eligible for early retirement

15:00, 27/11/2020

This is a notable content mentioned in the Draft Circular of the Minister of Labor, War Invalids and Social Affairs of Vietnam on the list of extremely disadvantaged areas.

File excel danh mục 23 tỉnh vùng ĐBKK sẽ được nghỉ hưu trước tuổi, Dự thảo Thông tư về Danh mục vùng có điều kiện kinh tế - xã hội đặc biệt khó khăn

Specifically, according to Point b Clause 1 Article 5 of the Decree No. 135/2020/NĐ-CP of Vietnam’s Government, an employee, in any of the following circumstances, may retire at the age earlier but not exceeding 5 years before the statutory retirement age provided for in Article 4 hereof, determined until the retirement date, unless otherwise prescribed by law:

He/she has at least 15 years’ working in highly disadvantaged areas, including the period he/she works in areas with the region-based allowance of at least 0.7 (allowance for those working in disadvantaged areas) before January 01, 2021 on the list of the Minister of Labor, War Invalids and Social Affairs.

Currently, the list of extremely disadvantaged areas is stated at the Draft Circular on the list of extremely disadvantaged areas waiting for issuance of the Minister of Labor, War Invalids and Social Affairs, and is expected to be effective in 2021.

DOWNLOAD: Excel file on the list of 23 provinces as extremely disadvantaged areas that employees shall be eligible for early retirement

According to Article 4 of the Decree No. 135/2020/NĐ-CP of Vietnam’s Government, retirement age is specified as follows:

- Since January 1, 2021, the retirement age of employees under ordinary working conditions are 60 years 3 months for male employees and 55 years 4 months for female employees;

- The age increases by 3 months for male employees each successive year until he reaches 62 in 2028 and increases by 4 months for female employees each successive year until she reaches 60 in 2035.

Thus, an employee working in areas under the list of extremely disadvantaged areas may retire at the age earlier but not exceeding 5 years before the statutory retirement age in accordance with the Labor Code 2019 of Vietnam. The lowest retirement ages of employees working in areas under the list of extremely disadvantaged areas shall follow the Table in Clause 2 Article 5 of the Decree No. 135/2020/NĐ-CP.

Le Hai

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

- 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