How to calculate average salary for social insurance contribution to receive pension

(QNgTV)- Vietnam Social Security (Ministry of Finance) has just issued instructions on calculating average salary as the basis for social insurance contributions, thereby determining pensions, one-time allowances, death benefits and monthly allowances.

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For those receiving State salary, the average calculation time is based on the last years before retirement and varies by period. Before 1995, it is 5 years, the period from 1/1/1995 to 12/31/2000 is 6 years, from 1/1/2001 to 12/31/2006 is 8 years, 1/1/2007 to 12/31/2015 is the last 10 years, 1/1/2016 to 12/31/2019 is the last 15 years, 1/1/2020 to 12/31/2024 is 20 years.

From 2025 onwards, the average calculation applies to the entire period of social insurance contribution.

People who have 15 years or more of heavy, toxic, or dangerous work and then work with a lower social insurance salary will have their salary from the number of years of heavy, toxic work used to calculate the average.

Officers and soldiers who change careers will have their salaries used as the basis for social insurance payments in the final years before the transfer to calculate the average.

For those whose salary is determined by the enterprise, the average level is calculated over the entire period of social insurance payment. If there are both periods in and out of the state, the state salary portion will be applied according to the above roadmap, then the average will be calculated.

In the State sector, participants from January 1, 2016 onwards will have their salaries adjusted according to the consumer price of each period, while those participating before 2016 will have their salaries adjusted according to the "reference level" at the time of receiving the regime.

Source: https://quangngaitv.vn/cach-tinh-binh-quan-luong-dong-bao-hiem-xa-hoi-de-huong-luong-huu-6507402.html