Regulations on retirement age of employees in 2024 in Vietnam

Regulations on retirement age of employees in 2024 in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Regulations on retirement age of employees in 2024 in Vietnam

According to Article 169 of the Labor Code 2019, the retirement age is specified as follows:

(i) An employee who has paid social insurance for an adequate period of time as prescribed by social insurance laws shall receive retirement pension when he/she reaches the retirement age.

(ii) Retirement ages of employees in normal working conditions shall be gradually increased to 62 for males by 2028 and 60 for females in 2035.

From 2021, the retirement ages of employees in normal working conditions shall be 60 yeas 03 months for males and 55 years 04 months for females, and shall increase by 03 months for males and 04 months for females after every year.

(iii) The retirement ages of employees who suffer from work capacity reduction; doing laborious, toxic or dangerous works; working in highly disadvantaged areas may be younger by up to 05 years than the retirement ages specified in (ii), unless otherwise prescribed by law.

(iv) Retirement ages of skilled employees and employees in certain special cases may be older by up to 05 years than the retirement ages specified in (ii), unless otherwise prescribed by law.

At the same time, Clause 2, Article 4 of Decree 135/2020/ND-CP stipulates that the roadmap to adjust the retirement ages of employees shall be done as follows:

Thus, according to the above roadmap for employees working in normal conditions, in 2024, the retirement age will increase by 3 months for men and 4 months for women. Specifically, men will be 61 years old and women will be 56 years and 4 months old.

2. Lowest retirement ages in Vietnam 2024

According to Article 5 of Decree 135/2020/ND-CP, early retirement (before the retirement age under ordinary working conditions) as prescribed in clause 3 Article 169 of the Labor Code 2019 is specified as follows:

- An employee, in any of the following circumstances, may retire at the age earlier but not exceeding 5 years before the statutory retirement age provided for in Article 4 hereof, determined until the retirement date, unless otherwise prescribed by law:

+ He/she has at least 15 years’ doing laborious, toxic and dangerous occupations or highly laborious, toxic and dangerous occupations on the lists of the Minister of Labor, War Invalids and Social Affairs.

+ He/she has at least 15 years’ working in highly disadvantaged areas, including the period he/she works in areas with the region-based allowance of at least 0.7 (allowance for those working in disadvantaged areas) before January 01, 2021 on the list of the Minister of Labor, War Invalids and Social Affairs.

+ His/her work capacity reduction is at least 61%.

+ He/she has at least total 15 years’ doing the occupations specified in point a and working in the areas specified in point b.

- The lowest retirement ages of employees specified above as follows:

Thus, according to the above regulations, the lowest retirement age for employees in 2024 for male employees is 56 years old, and for female employees, it is 51 years and 4 months.

Nguyen Ngoc Que Anh

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