Nearly 3.4 million people will enjoy a 15% increase in pensions and benefits from July 1.

The Ministry of Labor, Invalids and Social Affairs proposed that the Government issue a decree to increase pensions, social insurance benefits and monthly allowances.

Accordingly, the Ministry proposed to increase the pension and social insurance benefits of June by 15%, starting from July 1.

In particular, pensioners, workers' compensation and monthly allowance recipients before January 1, 1995, after a 15% increase, whose benefit level is lower than VND 3.5 million/month, will be adjusted to increase by VND 300,000/person/month for those whose benefit level is VND 3.2 million/month or less.

At the same time, increase to 3.5 million VND per month for people with income from 3.2 million VND per month to less than 3.5 million VND per month.

Thus, the number of people whose pensions and allowances are adjusted to increase in this period is about 3.373 million people and 300,000 people continue to be adjusted to increase in absolute amount after the general increase of 15%.

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 receive an average of 5.6 million VND/person/month, of which pensioners from the State budget receive 4.7 million VND/person/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/gan-34-trieu-nguoi-se-huong-muc-tang-luong-huu-tro-cap-15-tu-17-20240623180150546.htm