From July 1: Increase pensions and social insurance benefits

The Government has issued Decree No. 88/2018/ND-CP on adjusting pensions, social insurance benefits and monthly allowances. Accordingly, from July 1, pensions, social insurance benefits and monthly allowances will be adjusted to increase by 6.92%.
Subjects eligible for increased pensions and allowances include officials, civil servants, workers, public employees and laborers; soldiers, police officers and people working in key positions who are receiving monthly pensions.
In addition, there are 7 subjects whose salaries will be adjusted to increase, including: Commune, ward and town officials; people receiving monthly allowances for loss of working capacity; rubber workers receiving monthly allowances; soldiers and police officers receiving monthly allowances; soldiers and police officers, people working in secretarial work receiving salaries as soldiers and police officers receiving monthly allowances; people receiving monthly allowances for work-related accidents and occupational diseases.
According to Resolution No. 49/2017/QH14, monthly pensions and allowances will be adjusted to increase by the same amount as the basic salary increase (from VND 1.3 million to VND 1.39 million). Based on the basic salary increase, pensions and allowances from July 1 will be adjusted to increase by 6.92%.
More than 3 million people will receive salary and allowance increases in this adjustment. The budget for adjusting pensions, social insurance benefits and monthly allowances will come from the state budget and social insurance fund. It is expected that the budget for paying pensions and allowances will increase by more than VND9,600 billion in 2018./.