The National Assembly has approved an increase in the basic salary to 2.34 million VND, effective from July 1st.

In a resolution passed at the 7th session on the morning of June 29th, the National Assembly agreed to reform the salary system by increasing the basic salary from 1.8 million to 2.34 million VND per month, effective from July 1st, 2024.

The National Assembly also agreed to increase current pensions and social insurance benefits by 15%. Those receiving pensions before 1995 whose current pension is less than 3.2 million VND per month after adjustment will have their pension increased by 300,000 VND per month; those receiving between 3.2 million and less than 3.5 million VND per month will have their pension adjusted to 3.5 million VND per month.

In addition, the preferential allowance for meritorious individuals, based on the standard rate, also increased by 35.7%, from 2.055 million to 2.789 million VND/month. The social assistance standard increased by 38.9%, from 360,000 to 500,000 VND/month; the regional minimum wage increased by an average of 6%, effective from July 1st.

For central government agencies currently applying special financial and income mechanisms, the National Assembly proposes a continued review of the entire legal framework to provide a basis for submitting proposals to competent authorities to amend or abolish these special financial and income mechanisms before December 31, 2024. The difference between the salary and additional income of officials, civil servants, and public employees in June 2024 and the salary from July 1 after the amendment or abolition of the special financial and income mechanisms will be retained.

The National Assembly assigns the Standing Committee of the National Assembly to consider regulations on salaries and policies for full-time National Assembly deputies, full-time People's Council deputies, officials, civil servants, and other employees of the National Assembly Office.

Minister of Home Affairs Pham Thi Thanh Tra (far right) and delegates cast their votes in the National Assembly on the morning of June 29. Photo: National Assembly Media.

Because the conditions for implementing the nine new types of allowances as stipulated in the resolution on salary reform have not yet been met, the National Assembly agreed to maintain the current allowances such as leadership position allowance, concurrent duty allowance, seniority allowance exceeding the standard scale, and professional responsibility allowance.

From July 1st, the salaries of civil servants and public employees will continue to be calculated based on the base salary multiplied by the current coefficient, depending on the group. Allowances will be calculated based on a base salary of 2.34 million VND multiplied by the applicable coefficient. In addition, allowances calculated as a percentage of the current salary plus position allowances and seniority allowances (if any) will be calculated by multiplying the total base salary plus that allowance by the applicable percentage.

According to calculations by the Ministry of Finance , the funding needed to adjust the basic salary by 30%, bonuses by 10% of the basic salary fund, and adjustments to pensions and allowances accumulated over the three years from 2024-2026 must be an additional 913,300 billion VND. By the end of 2023, the whole country had allocated 680,000 billion VND for salary reform.

At its 7th session, the 15th National Assembly passed 11 laws and 21 resolutions; gave initial opinions on 11 draft laws, including the investment plan for the national target program on cultural development for the period 2025-2035; gave opinions on the draft Hanoi Capital City planning for the period 2021-2030, with a vision to 2050; and the draft overall adjustment plan for the Hanoi Master Plan until 2045, with a vision to 2065.

According to vnexpress.net

Source: https://baohanam.com.vn/chinh-polit/people-representatives/national-assembly-finalizes-increase-basic-salary-to-2-34-million-dong-from-1-7-126616.html