Pensions increase by 15%, allowance for meritorious people is nearly 2.8 million VND from July 1

From July 1, pensions and social insurance benefits will increase by 15%. This information was announced by Minister of Home Affairs Pham Thi Thanh Tra at the Ministry's press conference.

When pensions are adjusted at the above rate, pensioners who were receiving pensions before 1995 with a salary lower than 3.2 million VND/month will be increased by 0.3 million VND/month. Those who receive from 3.2 million VND/month to less than 3.5 million VND/month will be adjusted by 3.5 million VND/month.

In addition to the pension increase, the preferential allowance for meritorious people is also increased by 35.7%, corresponding to an absolute increase from VND 2,055 million to VND 2,789 million/month. The State maintains the current correlation of preferential allowance levels for meritorious people compared to the standard allowance level.

Social allowance according to the social assistance standard increased from 360,000 VND to 500,000 VND/month, equivalent to an increase of 38.9%.

Based on the Politburo's Conclusion at the meeting on June 19, the Government will report to the National Assembly a number of solutions to implement the adjustment of salary, pension, social insurance allowance, preferential allowance for meritorious people and social allowance according to a roadmap, step by step, reasonably, cautiously and surely; ensuring feasibility, efficiency and payment capacity of the state budget.

People receive monthly pensions (Photo: Ha Hien).

Previously, at the June work conference, Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung noted that there is not much time left from now until July 1, so it is necessary to focus on developing 3 decrees on regional minimum wages, pensions, and instructions on payment of benefits for people with meritorious services and social protection beneficiaries.

According to statistics from Vietnam Social Security, there are currently nearly 3.4 million people nationwide receiving monthly pension and social insurance benefits.

From 1995 to the end of 2023, the National Assembly and the Government have adjusted pensions 23 times. After many adjustments, the current pension level of retirees has increased from 21 to 26 times compared to the pension level in 1995.

Currently, pensioners from the Social Insurance Fund have an average benefit of 5.6 million VND/person/month, of which pensioners from the State budget receive 4.7 million VND/person/month.

Up to now, the person with the highest pension is Mr. PPNT in Ho Chi Minh City with the amount received about 140 million VND/month.

The lowest monthly pension amount is currently 1.8 million VND/person/month (not applicable to non-professional workers in communes, wards and towns).

Source: https://dantri.com.vn/an-sinh/luong-huu-tang-15-tro-cap-nguoi-co-cong-gan-28-trieu-dong-tu-17-20240620205151504.htm