Adjustment of salary and monthly income paid for social insurance in Vietnam 2023

What are the regulations on the adjustment of salary and monthly income paid for social insurance in Vietnam 2023? – Quoc Huy (Nghe An, Vietnam)

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Adjustment of salary and monthly income paid for social insurance in Vietnam 2023 (Internet image)

The adjustment of salary and monthly income for which social insurance have been paid in Vietnam in 2023 are prescribed in Circular 01/2023/TT-BLDTBXH as follows:

1. Adjustment of salaries for which social insurance have been paid in Vietnam 2023

1.1. Subjects of adjustment of salaries for which social insurance have been paid in Vietnam

Subjects of salary adjustment for which social insurance premiums have been paid according to the provisions of Clauses 1 and 2, Article 10 of Decree 115/2015/ND-CP include:

- Employees subject to the salary regime prescribed by the State who start participating in social insurance from January 1, 2016 onwards shall receive lump-sum social insurance benefits or die, and their relatives are entitled to a lump-sum survivorship allowance during the period from January 1, 2023, to December 31, 2023.

- Employees who pay social insurance according to the salary regime determined by the employer will receive a pension, lump-sum allowance upon retirement, lump-sum social insurance, or die, and their relatives will receive a lump-sum survivorship allowance from January 1, 2023 to December 31, 2023. 

1.2. Adjustment of salaries for which social insurance have been paid in Vietnam 2023

- The salaries for which social insurance have been paid for the subjects specified in item (1.1) shall be adjusted according to the following formula:

Post-adjusting monthly salary as the basis for social insurance payment of a year = Monthly salary as the basis for social insurance payment applicable to an employee subject to salary regime set by employer of the year x

Adjusting rate of salaries for which social insurance have been paid of the year

In which, the adjustment of the salaries for which social insurance have been paid for the corresponding year is made according to Table 1 below:

Table 1:

Year

Before 1995

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Adjustment level

5,26

4,46

4,22

4,09

3,80

3,64

3,70

3,71

3,57

3,46

3,21

2,96

2,76

2,55

2,07

Year

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Adjustment level

1,94

1,77

1,50

1,37

1,28

1,23

1,23

1,19

1,15

1,11

1,08

1,05

1,03

1,00

1,00

 

- For employees who have just paid social insurance premiums and are subject to the salary regime prescribed by the state and have just had time to pay social insurance premiums according to the salary regime decided by the employer, the monthly salary on which social insurance premiums are based for employees who start participating in social insurance according to the salary regime prescribed by the State from January 1, 2016 onwards and the monthly salary for which social insurance premiums have been paid according to the salary regime decided by the employer shall be adjusted according to the above provisions.

2. Adjustment of monthly income for which social insurance have been paid in Vietnam 2023

2.1. Subjects of adjustment of monthly income for which social insurance have been paid in Vietnam

Subjects of adjusted monthly income for which social insurance premiums have been paid according to the provisions of Clause 2, Article 4 of Decree 134/2015/ND-CP is a participant in voluntary social insurance enjoying a pension, lump-sum allowance upon retirement, lump-sum social insurance or dies whose relatives are entitled to a lump-sum survivorship allowance for the period from January 1, year to date. 2023 to December 31, 2023.

2.2. Adjustment of monthly income for which social insurance have been paid in Vietnam

- Monthly income for which social insurance have been paid in Vietnam for the subjects specified in item (2.1) shall be adjusted according to the following formula:

Post-adjusting monthly salary as the basis for voluntary social insurance payment of a year = Monthly salary as the basis for social insurance payment applicable to an employee subject to salary regime set by employer of the year x Adjusting rate of salaries for which social insurance have been paid of the year

In which, the adjustment of monthly income for which social insurance premiums have been paid for the respective year is made according to Table 2 below:

Table 2:

Year

2008

2009

2010

2011

2012

2013

2014

2015

Adjustment level

2,07

1,94

1,77

1,50

1,37

1,28

1,23

1,23

Year

2016

2017

2018

2019

2020

2021

2022

2023

Adjustment level

1,19

1,15

1,11

1,08

1,05

1,03

1,00

1,00

- For employees who both have time to pay compulsory social insurance and have time to pay voluntary social insurance, the monthly income for which the voluntary social insurance premium has been paid shall be adjusted according to the above regulations; the monthly salary for which compulsory social insurance has been paid shall be adjusted according to the provisions of Article 10 of Decree 115/2015/ND-CP and section (1.2).

The average monthly salary and income for which social insurance premiums have been paid as a basis for the calculation of pension, lump-sum allowance upon retirement, lump-sum social insurance, and lump-sum survivorship allowance are calculated according to the provisions of Clause 4 of Article 11 of Decree 115/2015/ND-CP and Clause 4, Article 5 of Decree 134/2015/ND-CP.

Nguyen Thi Diem My

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