Guidance on Adjusting Pension Increase according to Decree 55

14:49, 11/07/2024

Circular 23/2016/TT-BLDTBXH guiding the adjustment of pension, social insurance benefits, and monthly allowances according to Decree 55/2016/ND-CP.

Adjustment of benefit levels for individuals with pensions and allowances below 2,000,000 VND/month as follows:

- Individuals with a pension of 1,750,000 VND/month or less: The pension after adjustment equals the pre-adjustment pension plus 250,000 VND/month;- Individuals with a pension above 1,750,000 VND/month to below 2,000,000 VND/month: The benefit after adjustment is 2,000,000 VND/month;- Individuals receiving loss of working capacity allowance or monthly allowance of 1,850,000 VND/month or less: The allowance after adjustment equals the pre-adjustment allowance plus 150,000 VND/month;- Individuals receiving loss of working capacity allowance or monthly allowance above 1,850,000 VND/month to below 2,000,000 VND/month: The allowance after adjustment is 2,000,000 VND/month;

The time of adjustment is calculated from:

- January 2016 for those receiving a pension before January 1, 2016;- From the time of commencement for those starting to receive pensions between January 1, 2016 and December 31, 2016.

Circular 23/2016/TT-BLDTBXH comes into effect from September 1, 2016.

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