Proposal to supplement 12% pension for female workers
The Ministry of Labor, Invalids and Social Affairs has just released a draft Decree on adjusting pensions for female workers retiring from 2018 to 2021, to ensure fairness for those retiring before that time and for male workers.
According to the Draft, female workers who start receiving pensions from January 1, 2018 to December 31, 2021, if they have paid social insurance for 20 to 29 years and 6 months, will receive a compensation amount in their salary to ensure fairness (after 2021, pension compensation will not be adjusted).
The Ministry of Labor, Invalids and Social Affairs proposed that female workers retiring from 2018 with 20 years or more of social insurance contributions will have different adjustment levels, depending on the number of years of contributions (each level differs by 6 months); and the compensation level will gradually decrease until 2021. The highest compensation level is 12.31%, the lowest is 0.27%.
 |
| The Ministry of Labor, Invalids and Social Affairs proposed to provide 12% pension compensation for female workers; the Decree takes effect from October 1, 2018, workers will be entitled to receive back pay for months that have not been compensated. |
Specifically, if a female worker retires with 20 years of social insurance contributions, her salary will increase by 7.27% if she retires in 2018, by 5.45% if she retires in 2019, by 3.64% if she retires in 2020, and by 1.82% if she retires in 2021;
If a worker has 22 years 7 months to 23 years of social insurance contributions, retiring in 2018 will receive an additional 10.49% pension increase, retiring in 2019 will increase by 7.87%, retiring in 2020 will increase by 5.25%, retiring in 2021 will increase by 2.62%;If a female worker has 26 years and 7 months - 27 years of social insurance contributions, retiring in 2018 will receive an additional 6.96% pension increase, retiring in 2019 will receive an additional 5.22%, retiring in 2020 will receive an additional 3.48%, retiring in 2021 will receive an additional 1.74%...(details in the table below):
 |
| Details of pension compensation levels for female employees retiring from 2018 as proposed by the Ministry of Labor, Invalids and Social Affairs. |
The above compensation is still implemented after the pension increase adjustment for all groups of subjects from July 1, 2018, and retirees are entitled to receive back pay for the months that have not been compensated. All salary compensation is taken from the Social Insurance Fund.
According to the Social Insurance Law, from January 1, 2018, female retirees who want to receive the maximum pension (equal to 75% of the salary paid for social insurance) must increase their social insurance contributions by 5 years (from 25 years to 30 years immediately), while the application for men is on a gradual increase schedule until 2021. This causes female retirees from January 1, 2018 to have their salaries reduced by 1-10% compared to those who retired before, and by 1-2% compared to men. According to the calculation of Vietnam Social Insurance, the number of female retirees who are disadvantaged is about 91,100 people.
The Ministry of Labor, Invalids and Social Affairs calculates that with the above salary compensation calculation, each year there will be additional funding needs, specifically: In 2018, about 27.8 billion VND; in 2019, about 23.7 billion VND; in 2020, about 18.1 billion VND; in 2021, about 10.3 billion VND. In total, about 80 billion VND.
The Ministry of Labor, Invalids and Social Affairs proposed a Decree effective from October 1, 2018, allowing employees to receive back pay for months that have not been compensated.
.jpg "Nữ 'giám đốc rởm' lừa tiền đưa người đi xuất khẩu lao động, du lịch giá rẻ, tỷ lệ thành công cao")
