Ministry of Home Affairs responds to proposal to adjust pensions for early retirees - Lang Son Newspaper and Radio and Television

Previously, in the petition sent to the People's Petition and Supervision Committee of After the 8th session of the 15th National Assembly, voters of Binh Dinh province stated that according to current regulations, social allowances and pensions have increased by 15%, but people who retire early still receive significantly lower pensions than those who retire at the right age.

Therefore, the Ministry of Home Affairs should consider adjusting pension levels for early retirees to minimize disparities, ensure fairness in the retirement regime and create incentives for workers to participate in long-term social insurance, contributing to improving the lives of early retirees, while maintaining and sustainably developing social security work in the future.

Retirees receive their pensions at a post office in Ho Chi Minh City. Photo: vtv.vn

According to the Ministry of Home Affairs, the pension regime is one of the social insurance policies to ensure a monthly income for employees when they retire (reach retirement age). According to the provisions of the law on social insurance, employees to receive a monthly pension must simultaneously meet two conditions on age and social insurance contribution period to ensure harmony and balance between the contribution period and the social insurance benefit period of employees, thereby ensuring the balance and long-term sustainability of the Social Insurance Fund.

Employees who retire early before the prescribed retirement age will receive a lower pension than those who retire at the right age (the pension rate will be deducted, at a rate of 2% for each year of early retirement), ensuring fairness between those who retire at the right age and those who retire early according to the regulations.

On the other hand, according to the provisions of the law on social insurance, pensions of retirees are adjusted based on the increase in the consumer price index and economic growth in accordance with the state budget and the Social Insurance Fund.

At the same time, Resolution No. 28-NQ/TW dated May 23, 2018 of the 7th Conference of the 12th Central Executive Committee on reforming social insurance policies stated: "Amending regulations to encourage employees to participate in social insurance for a longer period of time, gradually increasing the average retirement age, increasing the proportion of employees who want to receive early retirement benefits, in accordance with social insurance principles and regulations of the Government. law and the Party and State's viewpoints and policies on social insurance policies". Therefore, there is no basis to report to competent authorities to consider and resolve separate pension adjustments for those who retire early.

Source: https://baolangson.vn/bo-noi-vu-tra-loi-kien-nghi-dieu-chinh-luong-huu-cho-nguoi-nghi-huu-som-5044739.html