Details of pension adjustment, social insurance benefits, monthly allowances
(Baonghean.vn) - On June 29, 2023, the Government issued Decree 42/2023/ND-CP (Decree No. 42) regulating the adjustment of pensions, social insurance benefits, and monthly allowances from July 1, 2023. However, this Decree will not take effect until August 14, 2023.
Therefore, timely payment of pensions and benefitsSocial insuranceFor beneficiaries in July and August 2023, the Social Insurance Agency will make monthly payments according to the benefit level of June 2023. Payments according to the new benefit level and the additional difference of July and August 2023 for beneficiaries will be made in the payment period of September 2023.
According to Decree No. 42, the adjustment levels of pensions, social insurance benefits, and monthly allowances are specifically regulated as follows:
- Increase by 12.5% on pension, social insurance benefits and monthly allowances of June 2023 for subjects as prescribed in this Decree, which has been adjusted according to Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government on adjusting pensions, social insurance benefits and monthly allowances.
- Increase by 20.8% on pension, social insurance allowance and monthly allowance of June 2023 for subjects as prescribed in this Decree that have not been adjusted according to Decree No. 108/2021/ND-CP.
In addition, from July 1, 2023, people receiving monthly pensions and social insurance benefits (except those receiving monthly occupational accident and disease benefits and those receiving monthly death benefits) before January 1, 1995, after making adjustments according to the provisions of Decree No. 42 above, if the benefit level is lower than VND 3,000,000/person/month, will be adjusted to increase as follows:
- Increase by 300,000 VND/person/month for those with benefits below 2,700,000 VND/person/month.
- Increase by 3,000,000 VND/person/month for those with benefits from 2,700,000 VND/person/month to less than 3,000,000 VND/person/month.
While waiting for Decree No. 42 to take effect and for the Circular guiding its implementation, the payment period for pensions, social insurance benefits and monthly allowances of July and August 2023, the Social Insurance agency will make payments according to the benefit level of June 2023. In the payment period of September 2023, beneficiaries will be paid the new benefit level by the Social Insurance agency and will receive the additional difference of July and August 2023 (due to not having been received). Thus, the rights to pensions, social insurance benefits and additional monthly allowances of beneficiaries are always guaranteed, in accordance with regulations.
In order to ensure the payment of pensions and allowances to beneficiaries is convenient and in accordance with regulations, local Social Insurance has instructed pension payment points to publicly post the above information; direct payment officers also answer related questions to help beneficiaries clearly understand the regulations and feel secure and confident about their benefits./.
