Adjustment to increase pensions and social insurance benefits in Vietnam in 2022, increase pensions and social insurance benefits in Vietnam in 2022, social insurance benefits in Vietnam in 2022, increase pensions and social insurance benefits in Vietnam

Adjustment to increase pensions and social insurance benefits in Vietnam in 2022

To support the retiree in Vietnam and according to the overall program to increase the social life of Vietnam citizens, from March 2022, several new regulations that are beneficial for employees and especially retirees will take effect. Specifically, there will be changes to pensions and social insurance benefits. So, what are the adjustment to increase pensions and social insurance benefits in Vietnam in 2022?

It is expected that more than 3 million people will enjoy the new pensions and benefits regime that comes into effect this March.

Circular 37/2021 of the Ministry of Labor, War Invalids and Social Affairs guiding the adjustment of pensions, social insurance allowances, and monthly allowances, and the time of pension enjoyment for cases where the original documents are no longer available, effective from March 15, 2022.

Adjustment to increase pensions and social insurance benefits in Vietnam in 2022
Adjustment to increase pensions and social insurance benefits in Vietnam in 2022

The circular stipulates that, from January 1, 2022, the pension, social insurance allowance, and monthly allowance will increase by 7.4% compared to the pension, social insurance allowance, and monthly allowance of December 2021. Specifically for:

– Cadres, civil servants, workers, public employees, and employees; military personnel, people’s police and cipher workers who are enjoying monthly pensions;

– Officials of communes, wards, and townships who are enjoying monthly pensions and allowances;

– Persons who are receiving a monthly allowance for loss of working capacity as prescribed by law.

In addition, there will also be changes to the benefits of retirees with a monthly allowance below 2,5 million VND.

According to Clause 2, Article 1 of Decree 108/2021/ND-CP, an additional 200,000 VND/person/month will be given for those with a pension or insurance allowance social insurance, monthly allowance of 2,300,000 VND/person/month or less. 

For those with a pension, social insurance allowance, monthly allowance from 2,300,000 VND/person/month to less than 2,500,000 VND/person/month, they will be increased to 2,500,000 VND/person/month.

This Decree takes effect from January 20, 2022. The provisions of this Decree will be implemented from January 1, 2022. 

This Decree replaces Decree No. 44/2019/ND-CP dated May 20, 2019, of the Government regulating pensions, social insurance benefits, and monthly allowances.

Increase monthly allowance for old and weak commune cadres who have retired

Moreover, there is also support for the old and weak commune cadres who have retired due to the Government’s previous Decision.

Circular 2/2022/TT-BNV of the Ministry of Home Affairs guiding the adjustment of monthly allowances from January 1, 2022, for the commune, ward, and township officials who have quit their jobs under Decision 130-CP dated June 20, 1975, of the Government Council and Decision 111-HDBT dated October 13, 1981, of the Council of Ministers (effective from March 15).

Specifically, the monthly allowance to be enjoyed from January 1, 2022, for old and weak commune-level cadres who have retired is adjusted as follows:

– For cadres who used to be the Secretary of the Party Committee, the Chairman of the Commune People’s Committee: From 2,116,000 VND/month to 2,473,000 VND/month.

– For cadres who are former Deputy Secretary, Vice Chairman, Standing Party Committee member, Secretary of the People’s Committee, Secretary of the Commune People’s Council, Commune Team Leader, Commune Police Chief: from 2,048,000 VND/month to 2,400,000 VND/month.

– For the remaining titles: from 1,896,000 VND/month to 2,237,000 VND/month.

ASL LAW is the top-tier Vietnam law firm for Employment and Labor Law. If you need any advice, please contact us for further information or collaboration.

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