What are the requirements for early retirement?

(Chinhphu.vn) - Mr. Tran Long Phung (Hanoi) was born on February 8, 1972, and has paid social insurance for 21 years and 9 months. Mr. Phung asked, can he now apply for early retirement? What are the conditions for receiving pension and the level of pension? If so, what documents are required and to which agency should he send the application?

Regarding this issue, Vietnam Social Security responds as follows :

Regulations on retirement age

According to the provisions of Article 169, Clause 1, Article 219 of the 2019 Labor Code and Decree No. 135/2020/ND-CP dated November 18, 2020 of the Government regulating retirement age:

From January 1, 2021, the retirement age of employees in normal working conditions is 60 years and 3 months for male employees and 55 years and 4 months for female employees; then it increases by 3 months each year for male employees until reaching 62 years old in 2028 and by 4 months each year for female employees until reaching 60 years old in 2035.

Employees can retire at a lower age but not more than 05 years compared to the retirement age under normal working conditions if they have paid social insurance for 20 years or more and are in one of the following cases:

- Workers with 15 years or more of experience in arduous, toxic, and dangerous jobs (NNDHNH) or especially NNDHNH on the list issued by the Ministry of Labor, War Invalids and Social Affairs ;

- Employees who have worked for 15 years or more in areas with particularly difficult socio -economic conditions (including working time in areas with regional allowance coefficient of 0.7 or higher before January 1, 2021);

- Employees with a total working time of NNDHNH or special NNDHNH occupation or job and working time in areas with especially difficult socio-economic conditions (including working time in areas with regional allowance coefficient of 0.7 or higher before January 1, 2021) of 15 years or more.

- Workers with reduced working capacity from 61% or more to less than 81%.

Employees can retire up to 10 years younger than the retirement age of employees working under normal working conditions if they have 20 years or more of social insurance contributions and one of the following additional conditions:

- Have 15 years of experience working in underground coal mining;

- Reduced working capacity of 81% or more.

Employees are not subject to age restrictions if they have paid social insurance for 20 years and are in one of the following cases:

- Infected with HIV/AIDS due to occupational accidents;

- Having a labor capacity reduction of 61% or more and having 15 years of experience in a special occupation or job in the list issued by the Ministry of Labor, War Invalids and Social Affairs (now the Ministry of Home Affairs).

How to calculate monthly pension

Article 56 of the Law on Social Insurance 2014 and Article 7 of Decree No. 115/2015/ND-CP November 11, 2015 of the Government regulating the monthly pension level of the elderly Labor is calculated by multiplying the monthly pension rate by the average level. monthly salary for social insurance contribution, including:

- The pension rate for male workers retiring from 2022 onwards is calculated at 45% of the average monthly salary for social insurance contributions corresponding to 20 years of social insurance contributions; then for each additional year of social insurance contributions, an additional 2% is calculated, with a maximum of 75% of the average monthly salary for social insurance contributions.

- The pension rate for female employees retiring from 2018 onwards is calculated at 45% of the average monthly salary for social insurance contributions corresponding to 15 years of social insurance contributions; then for each additional year of social insurance contributions, an additional 2% is calculated, with a maximum of 75% of the average monthly salary for social insurance contributions.

In case an employee retires early due to reduced working capacity, the salary will be reduced by 2% for each year of early retirement.

The average monthly salary for social insurance contribution to calculate pension is prescribed in Clauses 1, 2, 3, Article 62 of the Social Insurance Law 2014, specifically as follows:

For employees subject to the salary regime prescribed by the State and having paid social insurance for the entire period under this salary regime, the average monthly salary for the number of years of paying social insurance before retirement shall be calculated as follows:

- If participating in social insurance before January 1, 1995, the average monthly salary for social insurance contributions of the last 5 years before retirement is calculated;

- For those participating in social insurance from January 1, 1995 to December 31, 2000, the average monthly salary for social insurance contributions of the last 6 years before retirement is calculated;

- For those participating in social insurance from January 1, 2001 to December 31, 2006, the average monthly salary for social insurance contributions of the last 8 years before retirement is calculated;

- For those participating in social insurance from January 1, 2007 to December 31, 2015, the average monthly salary for social insurance contributions of the last 10 years before retirement will be calculated;

- If participating in social insurance from January 1, 2016 to December 31, 2019, the average monthly salary for social insurance contributions of the last 15 years before retirement will be calculated;

- If participating in social insurance from January 1, 2020 to December 31, 2024, the average monthly salary for social insurance contributions of the last 20 years before retirement will be calculated;

- For those participating in social insurance from January 1, 2025 onwards, the average monthly salary for social insurance contributions for the entire period will be calculated.

For employees who have paid social insurance for the entire period under the salary regime decided by the employer, the average monthly salary for social insurance payment for the entire period will be calculated.

Employees who have both a period of social insurance payment subject to the salary regime prescribed by the State and a period of social insurance payment under the salary regime decided by the employer shall have their average monthly salary for social insurance payment calculated for all periods, in which the period of payment under the salary regime prescribed by the State shall be calculated as the average monthly salary for social insurance payment according to the provisions of Clause 1 of this Article.

Pension profile

Clause 1, Article 108 of the 2014 Law on Social Insurance stipulates that pension benefit records for employees participating in compulsory social insurance include:

- Social insurance book;

- Decision to quit job and receive retirement benefits or document to terminate labor contract and receive retirement benefits;

- Minutes of the medical assessment of the level of reduced working capacity of the medical assessment council for retirees as prescribed in Article 55 of this Law or a certificate of HIV/AIDS infection due to occupational accidents for employees prescribed in Article 54 of this Law.

In Mr. Phung's case, having paid social insurance for more than 20 years, he has met the requirements for social insurance payment time to be eligible for retirement benefits. However, he did not provide information about his job title, workplace location, and level of reduced working capacity, so Vietnam Social Security has no basis to give a specific answer.

Vietnam Social Security provides information on retirement conditions for you to compare and determine. Mr. Phung can go directly to the Social Security agency where he resides and provide full information to receive specific advice and answers.

Chinhphu.vn

Source: https://baochinhphu.vn/nghi-huu-som-can-dap-ung-dieu-kien-gi-102250618150500362.htm