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At the Government's regular meeting on July 12, Deputy Prime Minister Tran Hong Ha requested that in August 2023, the Ministry of Labor, Invalids and Social Affairs and the Vietnam Social Security urgently coordinate and issue guidelines for adjusting pensions, social insurance benefits and monthly allowances according to Decree 42/2023/ND-CP.
It is known that on June 29, 2023, the Government issued Decree 42/2023/ND-CP adjusting pensions, social insurance benefits and monthly allowances.
This Decree takes effect from August 14, 2023. The provisions of this Decree shall be implemented from July 1, 2023.
Accordingly, from July 1, an additional 12.5% will be adjusted to increase the pension, social insurance benefits and monthly allowances of June 2023 for those receiving pensions and monthly social insurance benefits before January 1, 2022.
Adjust to increase by 20.8% on pension, social insurance benefits and monthly allowances of June 2023 for pensioners and monthly social insurance benefits from January 1, 2022 to before July 1, 2023.
People receiving monthly pensions and social insurance benefits before January 1, 1995 as prescribed in Clause 2, Article 1 of Decree 42/2023/ND-CP, after making adjustments according to Clause 1, Article 2 of Decree 42/2023/ND-CP, if their benefit level is lower than VND 3,000,000/month, will be adjusted to increase as follows: Increase by VND 300,000/person/month for those with a benefit level below VND 2,700,000/person/month; Increase by VND 3,000,000/person/month for those with a benefit level from VND 2,700,000/person/month to less than VND 3,000,000/person/month.
However, in the July 2019 payment period, pensioners, social insurance beneficiaries and monthly beneficiaries will still receive the old pension and benefits.
Therefore, to ensure the regime and policies for pensioners, social insurance benefits and monthly allowances, the Deputy Prime Minister requested that in August 2023, Vietnam Social Security pay new salaries and allowances; pay the additional difference of the July 2023 payment period according to the provisions of Decree 42/2023/ND-CP.
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