New regulations on retirement age have just been issued by the Government.
The Government has just issued Decree 135/2020/ND-CP regulating the retirement age. Accordingly, the retirement age of employees under normal working conditions according to Clause 2, Article 169 of the Labor Code is specifically regulated as follows:
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As of January 1, 2021,retirement age of workers under normal working conditionsis 60 years and 3 months for male workers and 55 years and 4 months for female workers; then, increase by 3 months each year for male workers until reaching 62 years old in 2028 and increase by 4 months each year for female workers until reaching 60 years old in 2035.
Male workers | Female workers | ||
Year of retirement | Retirement age | Year of retirement | Retirement age |
2021 | 60 years 3 months | 2021 | 55 years 4 months |
2022 | 60 years 6 months | 2022 | 55 years 8 months |
2023 | 60 years 9 months | 2023 | 56 years old |
2024 | 61 years old | 2024 | 56 years 4 months |
2025 | 61 years 3 months | 2025 | 56 years 8 months |
2026 | 61 years 6 months | 2026 | 57 years old |
2027 | 61 years 9 months | 2027 | 57 years 4 months |
From 2028 onwards | 62 years old | 2028 | 57 years 8 months |
2029 | 58 years old | ||
2030 | 58 years 4 months | ||
2031 | 58 years 8 months | ||
2032 | 59 years old | ||
2033 | 59 years 4 months | ||
2034 | 59 years 8 months | ||
From 2035 onwards | 60 years old |
The Decree also stipulates retirement at an age lower than the retirement age under normal working conditions of employees according to Clause 3, Article 169 of the Labor Code.
Specifically, employees in the following cases may retire at a lower age but not more than 05 years older than the retirement age at the time of retirement, except where otherwise provided by law:
+ Employees who have worked for 15 years or more in arduous, toxic, dangerous or especially arduous, toxic, dangerous jobs on the list issued by the Ministry of Labor, War Invalids and Social Affairs (1).
+ Employees who 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 (2).
The Minister of Labor, War Invalids and Social Affairs promulgates a list of areas with particularly difficult socio-economic conditions.
+ Workers with reduced working capacity of 61% or more.
+ Employees have a total working time in the profession or job specified in (1) and working time in the area specified in (2) of 15 years or more.
The lowest retirement age of employees is implemented according to the table below:
Male workers | Female workers | ||
Year of retirement | Lowest retirement age | Year of retirement | Lowest retirement age |
2021 | 55 years 3 months | 2021 | 50 years 4 months |
2022 | 55 years 6 months | 2022 | 50 years 8 months |
2023 | 55 years 9 months | 2023 | 51 years old |
2024 | 56 years old | 2024 | 51 years 4 months |
2025 | 56 years 3 months | 2025 | 51 years 8 months |
2026 | 56 years 6 months | 2026 | 52 years old |
2027 | 56 years 9 months | 2027 | 52 years 4 months |
From 2028 onwards | 57 years old | 2028 | 52 years 8 months |
2029 | 53 years old | ||
2030 | 53 years 4 months | ||
2031 | 53 years 8 months | ||
2032 | 54 years old | ||
2033 | 54 years 4 months | ||
2034 | 54 years 8 months | ||
From 2035 onwards | 55 years old |
Retirement at an age higher than the retirement age under normal working conditions of employees according to Clause 4, Article 169 of the Labor Code is specifically regulated as follows:
1- Employees can retire at a higher age when agreeing with the employer to continue working after retirement age (*).
2- Termination of labor contracts and settlement of social insurance regimes for employees specified in (*) above shall be implemented in accordance with the provisions of Section 3, Chapter III of the Labor Code and the provisions of the law on social insurance protection.
The Decree takes effect from January 1, 2021.
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