Wednesday , January 20 2021

Adjustment of pensions for employees retiring in the period 2018-2021



This decree provides for a policy to adjust pensions for female workers who start receiving pensions for the period 2018-2021 and have paid social insurance premiums over a period of 20 years to 29 years and 6 months. It is more harmful to sex workers men due to changes in the calculation of pensions in accordance with the provisions of the Social Insurance Act in 2014 compared to the Social Insurance Act in 2006.

Consequently, female employees start earning their pensions from 1 January 2018 on 31 December 2021, from 20 to 29 years and 6 months, depending on the period of payment of social security and the start of wages. The pension level is adjusted to the level of pension calculated in accordance with Clause 2, Article 56 or Clause 2, Article 74 of the Social Insurance Act 2014 plus the adjusted level. (1)

The level of adjustment shall be calculated on the basis of the level of pensions calculated in accordance with Clause 2, Article 56 or Clause 2, Article 74 of the Social Security Act 2014 at the time of commencement of payment of the old-age pension, with the adjustment rate corresponding to the time already paid. the payment of social security premiums and the start of payment of the old-age pension, specifically, as follows:

Payment time of social security premiums

Adjustment rate corresponding to the period of payment of the social security premium and the starting time of the pension payment:

2018

2019

2020

2021

20 years

7.27%

5.45%

3.64%

1.82%

20 years 01 month – 20 years 06 months

7.86%

5.89%

3.93%

1.96%

20 years 7 months – 21 years

8.42%

6.32%

4.21%

2.11%

21 years 01 month – 21 years 06 months

8.97%

6.72%

4.48%

2.24%

21 years 7 months – 22 years

9.49%

7.12%

4.75%

2.37%

22 years 01 month – 22 years 06 months

10.00%

% 7.50

5.00%

2.50%

22 years 7 months – 23 years

10.49%

7.87%

5.25%

2.62%

23 years 01 month – 23 years 06 months

10.97%

8.23%

5.48%

2.74%

23 years 7 months – 24 years

11.43%

8.57%

5.71%

2.86%

24 years 01 month – 24 years 06 months

11.88%

8.91%

5.94%

2.97%

24 years 7 months – 25 years

12.31%

9.23%

6.15%

3.08%

25 years 01 month – 25 years 06 months

10.91%

8.18%

5.45%

2.73%

25 years 7 months – 26 years

9.55%

7.16%

4.78%

2.39%

26 years 01 month – 26 years 06 months

8.24%

6.18%

4.12%

2.06%

26 years 7 months – 27 years

6.96%

5.22%

3.48%

1.74%

27 years 01 month – 27 years 06 months

5.71%

4.29%

2.86%

1.43%

27 years 7 months – 28 years

4.51%

3.38%

2.25%

1.13%

28 years 01 month – 28 years 06 months

3.33%

2.50%

1.67%

0.83%

28 years 7 months – 29 years

2.19%

1.64%

1.10%

0.55%

29 years 01 month – 29 years 06 months

1.08%

0.81%

0.54%

0.27%

The adjusted level of pensions serves as the basis for calculating the adjustment to the old-age pension adjustments, in accordance with Article 57 of the Social Insurance Act.

For female employees starting to receive pensions from 1 January 2018 to 31 December 2021 from 20 to 29 and 6 months starting to receive pensions for the period from 1 January 2018 to 30 June To adjust the pension to according to the provisions of (1) above, must be adjusted in accordance with the provisions of Decree no. 88/2018 / ND-CP 15 June 2018 of the Government on the adjustment of monthly pensions and social security benefits.

The Decree is in force from 24.12.2018.


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