Official increase of the statutory pay rate for 2020 to 1.6 million VND/month

19:45, 09/07/2024

On November 12, 2019, during the 8th session of the 14th National Assembly, Resolution 86/2019/QH14 on the 2020 state budget estimate was passed.

The National Assembly assigns the Government of Vietnam to implement the increase of the statutory pay rate from 1.49 million VND/month to 1.6 million VND/month while adjusting pensions, social insurance benefits, and monthly allowances according to regulations (for subjects guaranteed by the State Budget) and preferential allowances for people with meritorious services to the revolution to increase according to the statutory pay rate from July 1, 2020.

Additionally, the National Assembly also requests the Government of Vietnam to continue implementing the current regulations regarding policies to create sources for wage reform combined with thorough savings in expenditure associated with rearranging organizational structures, streamlining the payroll, and enhancing the financial autonomy of public service providers. Simultaneously, from 2019, allocate 40% of the increased central budget revenue and the increased revenue compared to the estimates of local budgets to create sources for wage reform in 2020 and accumulate for the period 2021-2025.

More details can be found in Resolution 86/2019/QH14 effective from December 27, 2019.

>> 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