Every month, employees must pay social insurance and health insurance, as well as unemployment insurance.
With unemployment insurance, employees who have paid insurance for 12 months or more within 24 months before terminating their labor contract will have the opportunity to receive unemployment benefits after leaving work.
However, Clause 1, Article 49 of the 2013 Law on Employment also stipulates that unemployment benefits do not apply to employees receiving pensions. Therefore, to fully enjoy insurance benefits, employees can quit their jobs to receive unemployment benefits before being eligible for monthly pensions.
The conditions for workers to receive pensions are to pay 20 years of social insurance and reach retirement age. Regarding retirement age, according to regulations from 2024, the retirement age for male workers will be 61 years old, and for female workers it will be 56 years and 4 months.
According to Article 50 of the Law on Employment , the period of unemployment benefits is calculated based on the number of months of social insurance contributions. For every 12 months of contributions up to 36 months, you will receive 3 months of benefits. After that, for every additional 12 months of contributions, you will receive 1 more month of benefits, but not exceeding 12 months.
Accordingly, workers nearing retirement age need to balance the time they receive unemployment benefits to stop working before retirement with the corresponding time but not more than 1 year.
Specifically, if an employee has paid social insurance for 11 years and has not received any benefits, he or she can quit 11 months early. Even those who have paid social insurance for more than 12 years should only quit 12 months before retirement because the maximum benefit of social insurance is only 12 months.
Workers can apply for unemployment benefits at the employment service center.
After receiving enough unemployment benefits, the employee is also eligible for retirement age. At that time, the employee can proactively go to the Social Security agency where he/she resides to complete the procedures for receiving pension without having to go through the enterprise.
If an employee reaches retirement age but does not meet the requirement for social insurance payment period (20 years) when the labor contract ends, he/she can still receive unemployment benefits if he/she meets the conditions. After that, the employee can pay voluntary social insurance to receive a pension.
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