Instructions on how to calculate pensions and social insurance benefits when increasing by 7.4% from January 1, 2022
The Ministry of Labor, War Invalids and Social Affairs has drafted a Circular guiding the adjustment of pensions, social insurance benefits and monthly allowances according to Decree No. 108/2021/ND-CP.
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| Pay pension benefits to beneficiaries in Hai Duong. |
According to the draft, the subjects of application include: Subjects specified in Points a, b and Point c, Clause 1, Article 1 of Decree No. 108/2021/ND-CP receiving pension, social insurance benefits and monthly allowances before January 1, 2022; Subjects specified in Point a and Point c, Clause 1, Article 1 of Decree No. 108/2021/ND-CP retiring before January 1, 1995 after making adjustments according to regulations, with pension, social insurance benefits and monthly allowances below VND 2.5 million/month (refer here).
The draft also stipulates that from January 1, 2022, the pension, social insurance allowance and monthly allowance of the subjects specified in Clause 1 will be increased by 7.4% compared to the pension, social insurance allowance and monthly allowance of December 2021.
Specifically, the pension, social insurance allowance, and monthly allowance from January 2022 are equal to the pension, social insurance allowance, and monthly allowance of December 2021 multiplied by 1.074.
From January 1, 2022, the pension, social insurance allowance and monthly allowance of the subjects specified in Clause 2 will also be adjusted. In particular, for those with pension, disability allowance and monthly allowance of VND 2.3 million/person/month or less, the pension, social insurance allowance and monthly allowance after adjustment will be equal to the pension, social insurance allowance and monthly allowance before adjustment plus VND 200,000/month.
For people with pension, disability allowance, monthly allowance from over 2.3 million VND/person/month to under 2.5 million VND/person/month, the pension, social insurance allowance, monthly allowance after adjustment is equal to 2.5 million VND/month.
Vietnam Social Security is responsible for implementing the adjustment of pensions, social insurance benefits and monthly allowances according to the provisions of Decree No. 108/2021/ND-CP and instructions in the Circular.
The Ministry of National Defense Social Insurance and the People's Public Security Social Insurance are responsible for implementing the adjustment of social insurance benefits and monthly benefits according to the provisions of the Circular for subjects under management.
