Increase in Statutory Pay Rate, Pensions, and Allowances from July 1, 2018

13:02, 11/07/2024

Below is the noteworthy content of Resolution 49/2017/QH14 on the state budget estimate for 2018, passed by the 14th National Assembly, during its 4th session on November 13, 2017.

Effective from July 1, 2018, the following adjustments will be implemented:

- Increase the statutory pay rate from 1.3 million VND/month to 1.39 million VND/month;- Increase retirement pensions, social insurance allowances, monthly allowances as stipulated (for beneficiaries ensured by the State budget) and preferential allowances for those with meritorious services, in line with the increase in the statutory pay rate.

According to Resolution 49, the National Assembly assigns the Government of Vietnam to direct ministries, central agencies, and local authorities to implement:

- Adjust the prices of goods managed by the State in alignment with market prices, ensuring reasonable production and business cost recovery, and investment attraction;- Streamline payrolls, reorganize, and streamline administrative apparatus for efficient operation.

View the full text of Resolution 49/2017/QH14.

>> 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