Decree 153/2018/ND-CP: Adjustment of Pension Levels for Female Workers

Kim Linh

18:21, 11/07/2024

the Government of Vietnam has just issued Decree 153/2018/ND-CP stipulating the policy on adjusting pensions for female workers who start receiving pensions in the period from 2018 to 2021 and have contributed to social insurance for a period between 20 years to 29 years and 6 months.

Female workers starting to receive pensions from January 1, 2018, to December 31, 2021, with a social insurance contribution period of 20 years to 29 years and 6 months, shall have their pension adjustment regulated as follows:

- The pension shall be adjusted by the pension amount calculated according to Clause 2 Article 56 or Clause 2 Article 74 of the Social Insurance Law 2014 plus the adjustment amount prescribed in Clause 2 Article 3 of Decree 153;- The adjustment amount is calculated as follows: the pension at the time of starting to receive the pension multiplied by the adjustment rate corresponding to the period of social insurance contribution and the starting time of receiving the pension.- The adjusted pension shall be the basis for calculating adjustments in subsequent pension adjustments according to Article 57 of the Social Insurance Law.

The timing for implementing the adjustment is calculated from the month the female worker starts receiving her pension.

Decree 153/2018/ND-CP takes effect from December 24, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- 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