Pension is a significant benefit for those who have paid social insurance premiums for a sufficient period upon retirement, serving as a moral support for the elderly. Under the Law on Social Insurance 2014, from January 1, 2018, the regulations on pension calculation in Vietnam have undergone some changes, particularly with the pension from July 1, 2018, being increased by 6.92%.
The Law on Social Insurance 2014 adopted by the National Assembly of Vietnam on November 20, 2014, effective from January 1, 2016, contains several noteworthy provisions. Among these is the adjustment in the calculation method of pensions before and after January 1, 2018.
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