The Government has just issued Decree No. 42/2023/ND-CP dated June 29, 2023 regulating pensions, social insurance allowances and monthly allowances. Accordingly, from July 1, 2023, the pension, social insurance allowance and monthly allowance will be increased from 12.5% to 20.8%. In this article, we will research the benefits that employees can receive, which is increasing pension. As the nation gears up for these revisions, there's a palpable sense of optimism, as pensioners eagerly anticipate the forthcoming improvements.
1. Adjustment object
This Decree adjusts the pension, social insurance allowance and monthly allowance for beneficiaries of pension, social insurance allowance and monthly allowance before July 1, 2023, including:
a) Cadres, civil servants, workers, public employees and employees (including those who have time to participate in voluntary social insurance, retirees from the Nghe An farmer's social insurance fund transferred under Decision No. Decree No. 41/2009/QD-TTg); military personnel, people's police and people doing cipher work are receiving monthly pensions.
b) Commune, ward and township cadres prescribed in Decree No. 92/2009/ND-CP on titles, quantity, a number of regimes and policies applicable to cadres and civil servants in communes, wards and towns Town and part-time workers at commune level, Decree No. 34/2019/ND-CP amending and supplementing a number of regulations on commune-level cadres and civil servants and part-time workers at commune level. , in villages, residential groups, Decree No. 121/2003/ND-CP on regimes and policies for cadres and civil servants in communes, wards and townships and Decree No. 09/1998/ND-CP amending amending and supplementing the Government's Decree No. 50/CP of July 26, 1995 on the regime of living expenses for officials of communes, wards and townships who are enjoying monthly pensions and allowances.
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c) Individuals currently receiving a monthly allowance due to a loss of working capacity as mandated by prevailing legislation; individuals who are presently obtaining a monthly allowance in accordance with Decision No. 91/2000/QD-TTg concerning allowances for those who have reached the designated retirement age at the point when the monthly allowance for loss of working capacity ceases; beneficiaries covered by Decision No. 613/QD - TTg, pertaining to the monthly allowance for individuals with a cumulative work experience of no less than 15 years and less than 20 years, whose eligibility for the loss of working capacity benefit has lapsed; laborers employed in the rubber industry who are currently availing monthly allowances as per the stipulations of Decision No. 206-CP dated May 30, 1979, issued by the Government Council on measures for workers newly freed from heavy and hazardous vocations, who are now elderly and debilitated, necessitating their departure from the workforce.
d) Commune, ward and township cadres who are receiving monthly allowances according to Decision No. 130-CP of June 20, 1975 of the Government Council supplementing policies and remuneration regimes for commune officials and Decision No. Decision No. 111-HDBT dated October 13, 1981 of the Council of Ministers.
e) Soldiers who are enjoying a monthly allowance under Decision No. 142/2008/QD-TTg on implementing the regime for soldiers participating in the resistance war against the US for national salvation with less than 20 years of service in the army have servicemen, demobilized to the locality (amended and supplemented by Decision No. 38/2010/QD-TTg).
g) The People's Public Security Forces are receiving a monthly allowance under Decision No. 53/2010/QD-TTg stipulating the regime for officers and soldiers of the People's Public Security who participated in the resistance war against the US with less than 20 years of service. Employees in the People's Public Security have quit their jobs and been discharged from the army and returned to the locality.
f) Military personnel, people's police, people doing cipher work receive salaries similar to soldiers and people's police who are receiving monthly allowances according to Decision No. 62/2011/QD-TTg on regimes and policies a book for subjects who participated in the war to defend the Fatherland, performed international missions in Cambodia, and helped Laos friends after April 30, 1975, who were discharged from the army or quit their jobs after April 30, 1975.
h) Persons who are receiving monthly labor accident and occupational disease allowance.
i) Persons receiving monthly survivorship allowance before January 1, 1995.
The subjects specified at Points a, b, c, d, dd, e and g above take leave to enjoy pensions, social insurance allowances, monthly allowances before January 1, 1995, after implementation Currently adjusted according to regulations with pension, social insurance allowance, monthly allowance under 3,000,000 VND/month.
The pension increase from 12.5% to 20.8% will be implemented from July 1, 2023
2. Extra increase from 12.5% to 20.8%
2.1 According to the Decree, from July 1, 2023, the adjustment is as follows:
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An increase of 12.5% on the pension, social insurance allowance and monthly allowance of June 2023 for the specified subjects has been adjusted according to Decree No. 108/2021/ND-CP regulating adjustment of pension, social insurance allowance and monthly allowance.
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An increase of 20.8% on the pension, social insurance allowance and monthly allowance of June 2023 for the regulated subjects that have not been adjusted according to Decree No. 108/2021/ND-CP regulating adjustment of pension, social insurance allowance and monthly allowance.
2.2 Revised Adjustments to Pensions, Social Insurance Allowances, and Monthly Allowances from July 1, 2023
Starting from July 1, 2023, individuals currently benefiting from pensions, social insurance allowances, or prescribed monthly allowances will experience the following adjustments:
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A rise of 300,000 VND per person per month for recipients with a monthly allowance totaling less than 2,700,000 VND per person.
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An increase to 3,000,000 VND per person per month for those enjoying monthly allowances ranging from 2,700,000 VND per person to just under 3,000,000 VND per person.
The pensions, social insurance allowances, and monthly allowances after these adjustments, as stipulated by this regulation, will serve as the foundation for computing subsequent revisions in pensions, social insurance allowances, and monthly allowances.
This Decree takes effect from August 14, 2023. The provisions of this Decree shall be effective from July 1, 2023.
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