From 2021, the retirement age of employees will have many changes compared to the previous retirement age. So, how will the roadmap for adjusting the retirement age of employees change in Vietnam?
Article table of contents
1. Roadmap to adjust the retirement age of employees under ordinary working conditions
According to Article 4 of the Decree No. 135/2020/NĐ-CP of the Vietnam Government, 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; and 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.
The roadmap to adjust the retirement ages of employees is specified as following:
2. Roadmap to adjust early retirement (before the retirement age under ordinary working conditions)
According to Article 5 of the Decree No. 135/2020/NĐ-CP of the Vietnam 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 of employees under ordinary working conditions, determined until the retirement date, unless otherwise prescribed by law:
- Employee has at least 15 years’ doing laborious, toxic and dangerous occupations or highly laborious, toxic and dangerous occupations on the lists of the Minister of Labor, War Invalids and Social Affairs of Vietnam;
- Employee 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 of Vietnam;
- Employee’s work capacity reduction is at least 61%;
- He/she has at least total 15 years’ doing laborious, toxic and dangerous occupations or highly laborious, toxic and dangerous occupations on the lists of the Minister of Labor, War Invalids and Social Affairs of Vietnam and 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.
Thus, roadmap to adjust early retirement (before the retirement age under ordinary working conditions) to 2028 and to 2035 is as following:
- Key word:
- Decree No. 135/2020/NĐ-CP
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