Specific instructions on retirement age according to Decree 135/2020/ND-CP

Specifically:

1. For male workers born in December 1960 and female workers born in December 1965 working under normal working conditions;

Male workers born in December 1965 and female workers born in December 1970 who have worked for 15 years or more in arduous, toxic, dangerous or especially arduous, toxic, dangerous jobs on the list ofMinistry of Labor, War Invalids and Social Affairsissued or have worked for 15 years or more in areas with particularly difficult socio-economic conditions (including working time in areas with regional allowance coefficient of 0.7 or higher before January 1, 2021) or have been determined to have a reduced working capacity of 61% to less than 81% before January 1, 2021;

Male workers born in December 1970 and female workers born in December 1975 who are determined to have a working capacity reduction of 81% or more before January 1, 2021 are eligible to receive pension benefits from January 1, 2021.

In case the employee continues to work after having enoughretirement ageAccording to regulations, retirement time is the time when the labor contract terminates.

Workers need to clearly understand the retirement age according to Decree 135/2020. Photo courtesy of MH

2. Determining the age to calculate the number of years of early retirement is the basis for calculating the reduction in pension rate as prescribed in Clause 3, Article 56 of the Law.social insuranceis implemented according to the provisions of Clause 3, Article 7 of Decree No. 135/2020/ND-CP, in which the time of early retirement of the employee is used to determine the age according to the retirement age prescribed in Clause 2, Article 4 and Clause 2, Article 5 of Decree No. 135/2020/ND-CP.

3. The determination of the number of years of social insurance contributions corresponding to the pension rate of 45% is based on the time the employee begins receiving the monthly pension.

4. The determination of "enough retirement age" as a basis for considering and resolving one-time social insurance benefits according to Point a, Clause 1, Article 60 and Point a, Clause 1, Article 77 of the Law on Social Insurance is based on the retirement age in the year the employee requests to resolve one-time social insurance benefits.

5. Settlement of benefitspensionMonthly and monthly allowances for employees who have decided to quit their jobs pending settlement of retirement and monthly allowances, it is recommended to implement according to the provisions of Article 25 of Decree No. 115/2015/ND-CP dated November 11, 2015 of the Government detailing a number of articles of the Law on Social Insurance on compulsory social insurance.

Propaganda about voluntary social insurance policy for people in Nghi Loc district. Photo: PV

6. Regarding the content of the proposal related to Decree No. 26/2015/ND-CP dated March 9, 2015 of the Government stipulating the regime and policies for cadres who do not meet the age requirements for re-election or re-appointment to positions and titles according to the term of office in agencies of the Communist Party of Vietnam, the State, and socio-political organizations, it is recommended that Vietnam Social Security consult with the Ministry of Home Affairs and the Central Organization Committee for consideration according to its authority.