Early retirement policy according to Decree 29/2023/ND-CP

05 policies on streamlining payroll from July 20, 2023 are stipulated in Decree 29/2023/ND-CP regulating staff streamlining.

Chính sách nghỉ hưu trước tuổi theo Nghị định 29/2023/NĐ-CP. (Nguồn: nld.com)

Early retirement policy according to Decree 29/2023/ND-CP. (Source: nld.com)

Accordingly, the regulations on early retirement policy under Decree 29/2023/ND-CP are as follows:

1. Subjects of staff reduction whose age is at least 05 years lower than the maximum and at least 02 years lower than the retirement age prescribed in Appendix II issued with Decree 135/2020/ND-CP and have paid compulsory social insurance for 20 years or more, of which 15 years have worked in arduous, toxic, dangerous or especially arduous, toxic, dangerous jobs on the list issued by the Ministry of Labor - Invalids and Social Affairs or have worked for 15 years or more in areas with particularly difficult socio-economic conditions issued by the Ministry of Labor - Invalids and Social Affairs including working time in places with regional allowance coefficient of 0.7 or higher before January 1, 2021, in addition to enjoying retirement benefits according to the provisions of the law on social insurance, are also entitled to the following benefits:

- No deduction of pension rate due to early retirement;

- Receive a subsidy of 03 months of average salary for each year of early retirement compared to the retirement age specified in Appendix II issued with Decree 135/2020/ND-CP;

- Subsidized 05 months of average salary for the first twenty years of work, with full payment of compulsory social insurance. From the twenty-first year onwards, for each year of work with compulsory social insurance payment, a subsidy of 1/2 month of salary will be granted.

2. Subjects of staff streamlining whose age is at least 05 years lower than the maximum and at least 02 years lower than the retirement age prescribed in Appendix I issued with Decree 135/2020/ND-CP and have paid 20 years or more of compulsory social insurance are entitled to pension according to the provisions of Article 54 of the Law on Social Insurance 2014 (amended and supplemented in 2019). In addition to enjoying the retirement regime according to the provisions of the law on social insurance, they are also entitled to the following regimes:

- Receive a subsidy of 03 months of average salary for each year of early retirement compared to the retirement age specified in Appendix I issued with Decree 135/2020/ND-CP;

- Enjoy the benefits prescribed in Point a, Point c, Clause 1, Article 5, Decree 29/2023/ND-CP.

3. Subjects of staff reduction whose minimum age is 02 years lower than the retirement age specified in Appendix II issued with Decree 135/2020/ND-CP and have paid compulsory social insurance for 20 years or more, including 15 years of working in arduous, toxic, dangerous or especially arduous, toxic, dangerous jobs on the list issued by the Ministry of Labor - Invalids and Social Affairs or having 15 years of working in areas with particularly difficult socio-economic conditions issued by the Ministry of Labor - Invalids and Social Affairs including working time in places with regional allowance coefficient of 0.7 or higher before January 1, 2021 shall enjoy retirement benefits according to the provisions of the law on social insurance and shall not have their pension rate deducted due to early retirement.

4. Subjects of staff streamlining whose minimum age is 02 years lower than the retirement age specified in Appendix I issued with Decree 135/2020/ND-CP and have paid 20 years or more of compulsory social insurance (female cadres and civil servants at the commune level have paid 15 years or more of compulsory social insurance) shall enjoy retirement benefits according to the provisions of the law on social insurance and shall not have their pension rate deducted due to early retirement.

5. The subjects of staff reduction are female cadres and civil servants at the commune level whose age is at least 5 years lower than the maximum and at least 2 years lower than the retirement age prescribed in Appendix I issued with Decree 135/2020/ND-CP, who have paid compulsory social insurance for 15 years but less than 20 years. In addition to enjoying the retirement regime according to the provisions of the law on social insurance, they are also entitled to the following regimes:

- No deduction of pension rate due to early retirement;

- Receive a subsidy of 05 months of average salary and the regime prescribed in Point a, Clause 2, Article 5, Decree 29/2023/ND-CP.

Decree 29/2023/ND-CP takes effect from July 20, 2023; the regimes and policies in Decree 29/2023/ND-CP are applied until December 31, 2030.

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