National Assembly agrees to increase salary by 30% from July 1, 2024

On June 29, the National Assembly held the closing session of the 7th session of the 15th National Assembly. Attending the closing session were: President To Lam; Prime Minister Pham Minh Chinh; National Assembly Chairman Tran Thanh Man; Politburo member, Permanent member of the Secretariat Luong Cuong; Politburo member, Secretary of the Party Central Committee, Chairman of the Vietnam Fatherland Front Central Committee Do Van Chien.

At the closing session, with 100% of National Assembly delegates present in agreement, the National Assembly voted to pass the Resolution of the 7th Session, 15th National Assembly.

Resolution resolution: Pursuant to Conclusion No. 83-KL/TW dated June 21, 2024 of the Politburo and Report No. 329/BC-CP dated June 21, 2024 of the Government, the National Assembly agrees to implement the contents of salary reform; adjust pensions, social insurance benefits, preferential benefits for people with meritorious services and social benefits from July 1, 2024.

Specifically, fully implement 2 contents of salary reform in the enterprise sector in accordance with Resolution No. 27-NQ/TW, including: Adjusting the regional minimum wage according to the provisions of the Labor Code (an average increase of 6% applied from July 1, 2024); regulating the salary mechanism for state-owned enterprises (applied from January 1, 2025).

Delegates vote to pass the Resolution of the 7th Session (Photo: Quang Vinh)

Implement salary reform according to Resolution No. 27-NQ/TW in the public sector in a gradual, cautious, and certain manner, ensuring feasibility and contributing to improving the lives of wage earners.

The National Assembly assigned the Government to implement the contents that are clear and eligible for implementation, including: perfecting the salary increase regime; supplementing the bonus regime; regulating the funding source for implementing the salary regime; perfecting the salary and income management mechanism.

Adjust the basic salary from 1.8 million VND/month to 2.34 million VND/month (increase of 30%) from July 1, 2024. For agencies and units that are applying special financial and income mechanisms at the Central level: The Government, relevant ministries and branches continue to review the entire legal framework to submit to competent authorities for consideration and decision on amending or abolishing the special financial and income mechanisms of agencies and units that are being implemented appropriately before December 31, 2024; reserving the difference between the salary and additional income in June 2024 of cadres, civil servants and public employees with the salary from July 1, 2024 after amending or abolishing the special financial and income mechanisms.

During the period of not being amended or abolished, from July 1, 2024, the monthly salary and additional income will be calculated based on the basic salary of VND 2.34 million/month according to a special mechanism ensuring that it does not exceed the salary and additional income received in June 2024 (excluding the salary and additional income due to adjustment of the salary coefficient of the salary scale and grade when upgrading the grade or grade).

In case of calculation according to the above principle, if the salary and income increase from July 1, 2024 according to the special mechanism is lower than the salary according to general regulations, the salary regime according to general regulations will be implemented.

From July 1, 2024, the current pension and social insurance benefits will be adjusted up by 15% (June 2024); for those receiving pensions before 1995, if after adjustment the benefit level is lower than 3.2 million VND/month, the adjustment will increase by 300,000 VND/month, if the benefit level is from 3.2 million VND/month to less than 3.5 million VND/month, the adjustment will be equal to 3.5 million VND/month; the preferential allowance for meritorious people will be adjusted according to the standard allowance level from 2,055,000 VND to 2,789,000 VND/month (an increase of 35.7%), keeping the current correlation of preferential allowance levels for meritorious people compared to the standard allowance level; the social allowance will be adjusted according to the social assistance standard level from 360,000 VND to 500,000 VND/month (an increase of 38.9%).

The National Assembly assigns the National Assembly Standing Committee to consider regulations on salaries and policies for full-time National Assembly deputies, full-time People's Council deputies, cadres, civil servants, public employees, other workers of the National Assembly Office and other subjects under its authority as prescribed by law.

Source: https://daidoanket.vn/quoc-hoi-thong-nhat-tang-30-tien-luong-tu-1-7-2024-10284343.html