Adjustment of Pension Levels, Social Insurance Allowance, and Monthly Allowance Increased by 6.92%

Le Hai

08:28, 11/07/2024

June 29, 2018, the Ministry of Labor, Invalids and Social Affairs issued Circular 05/2018/TT-BLDTBXH guiding the adjustment of pension levels, social insurance benefits, and monthly allowances.

From July 1, 2018, the pension, social insurance benefits, and monthly allowances will increase by 6.92% compared to the pension, social insurance benefits, and monthly allowances of June 2018, specifically:

Pension, social insurance benefits, monthly allowance of July = Pension, social insurance benefits, monthly allowance of June x 1.0692.

Please note, the above adjustment formula is applied to the subjects prescribed in Clauses 1, 2, 3, and Clause 8 Article 1 of Decree 88/2018/ND-CP.

More details can be found in Circular 05/2018/TT-BLDTBXH, effective from August 15, 2018, with policies implemented from July 1, 2018.

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