Nghe An Provincial Social Insurance has just issued a notice on pension and social insurance benefits payment for August 2023.
Accordingly, the payment of pensions, social insurance benefits and allowances for August 2023 will be postponed to August 14, instead of being paid at the beginning of the month as usual.
Specifically, those receiving pensions and social insurance benefits through personal accounts will receive them on August 14, 2023; while those receiving cash payments at payment points across the province will receive them from August 14 to 20, 2023.
From September 2023 onwards, the Provincial Social Insurance will pay pensions and monthly allowances throughout the province according to the old regular schedule as in July 2023.
The payment schedule in August is later than the regular old schedule to ensure that pensioners, social insurance benefits and monthly allowances receive their benefits as soon as possible according to the provisions of Decree No. 42/2023/ND-CP dated June 29, 2023 of the Government on adjusting pensions, social insurance benefits and monthly allowances, which takes effect from August 14, 2023; instead of waiting until the pension and social insurance benefits are received in September 2023.
Previously, on June 29, the Government issued Decree 42/2023/ND-CP (Decree No. 42) regulating the adjustment of pensions, social insurance benefits, and monthly allowances from July 1, 2023; however, the Decree will not take effect until August 14, 2023.
Therefore, in order to promptly pay monthly pensions and social insurance benefits to beneficiaries in July 2023, the Social Insurance agency will still make payments according to the June 2023 benefit level, without paying the additional amount.
On July 31, Vice Chairman of Nghe An Provincial People's Committee Bui Dinh Long signed and issued Official Dispatch No. 6266/UBND-VX dated July 31, 2023 of Nghe An Provincial People's Committee agreeing on the policy of the Provincial Social Insurance to preside over and coordinate with the Post Office to implement the payment of pensions and social insurance benefits for August 2023 and to collect the additional difference of July 2023 according to the new benefit level prescribed in Decree No. 42/2023/ND-CP, Circular No. 06/2023/TT-BLDTBXH from August 14, 2023 as requested by the Provincial Social Insurance.
The Provincial People's Committee also assigned the Provincial Social Insurance to agree with the Provincial Post Office on a plan to pay pensions and social insurance benefits to beneficiaries in a safe and proper manner; focusing on maximizing human resources, shortening payment time, ensuring timely and full benefits for beneficiaries.
On July 20, 2023, Vietnam Social Security also issued Official Dispatch No. 2206/BHXH-TCKT to Social Security of provinces and centrally-run cities, clearly stating the time for payment of pensions, social insurance benefits, monthly benefits of August 2023 and the additional difference of July 2023 according to the new benefit level prescribed in Decree No. 42/2023/ND-CP, Circular No. 06/2023/TT-BLDTBXH from August 14, 2023, to ensure that the above subjects enjoy the policy as soon as possible.
According to Decree No. 42, the adjustment levels of pensions, social insurance benefits, and monthly allowances are specifically regulated as follows:
- Increase by 12.5% on pension, social insurance allowance and monthly allowance of June 2023 for subjects as prescribed in this Decree, which has been adjusted according to Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government on adjusting pension, social insurance allowance and monthly allowance.
- Increase by 20.8% on pension, social insurance allowance and monthly allowance of June 2023 for subjects as prescribed in this Decree that have not been adjusted according to Decree No. 108/2021/ND-CP.
In addition, from July 1, 2023, people receiving monthly pensions and social insurance benefits (except those receiving monthly occupational accident and disease benefits and those receiving monthly death benefits) before January 1, 1995, after making adjustments according to the provisions of Decree No. 42 above, if the benefit level is lower than VND 3 million/person/month, it will be adjusted to increase as follows:
- Increase by 300,000 VND/person/month for those with a benefit level below 2.7 million VND/person/month.
- Increase by 3 million VND/person/month for those with benefits from 2.7 million VND/person/month to less than 3 million VND/person/month.
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