Hanoi-Vietnam: Deadline for participation in pension additional voluntary contribution scheme at enterprises

Nguyen Trinh

03:15, 11/07/2024

This is one of the noteworthy contents of Circular 19/2018/TT-BLDTBXH guiding the construction of agreement documents for participating in the voluntary supplementary retirement program at enterprises, issued on October 30, 2018.

According to the guidance provided in this Circular, when concluding an Agreement, the employee and the employer must specify the validity period of the Agreement, the start time and end time of the AVC scheme.

In particular, the end time of the AVC scheme cannot come after the termination date of the labor contract between the employer and the employee.

Additionally, participation in the pension additional voluntary contribution scheme in Vietnam will be suspended when:

- The Agreement expires but they do not agree to extend or re-sign the Agreement.

- The employee and the employer agree to suspend from participation.

- The employee unilaterally terminates the execution of the Agreement.

- The employer unilaterally terminates the execution of the Agreement.

- The labor contract between the employee and the employer terminates before the expiry of the Agreement.

More details may be found in Circular 19/2018/TT-BLDTBXH effective on December 15, 2018.

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