Early retirement cases are not subject to pension deductions.

Current law stipulates that employees are entitled to pension when they meet the conditions of 20 years of social insurance participation and reach retirement age according to the Labor Code.

Regarding the monthly pension rate, for male workers, paying 20 years of social insurance will receive 45%, if they retire in 2023, they will receive 45%. After that, for every additional year of social insurance payment, an additional 2% will be calculated.

For women, paying for 15 years will get 45%. After that, for every additional year of social insurance payment, an additional 2% will be calculated. The maximum monthly pension rate is 75%.

Streamlining the payroll without deducting pension benefits

According to Decree 29/2023/ND-CP of the Government regulating staff streamlining effective from July 20, 2023, there are 5 cases of early retirement without deduction of pension rate.

Specifically, the subjects of staff reduction must be 2-5 years younger than the prescribed retirement age, and have paid 20 years or more of compulsory social insurance, of which 15 years must be spent working in arduous, toxic, dangerous or especially arduous, toxic, dangerous occupations or jobs, or 15 years or more must be spent working in areas with particularly difficult socio -economic conditions.

In addition to not having their pension rate deducted due to early retirement, they are also entitled to a subsidy of 3 months of average salary for each year of early retirement; a subsidy of 5 months of average salary for the first 20 years of work, with full payment of compulsory social insurance.

From the 21st year onwards, for each year of work with compulsory social insurance payment, a subsidy of half a month's salary will be provided.

The subjects of staff reduction must be 2-5 years younger than the retirement age, and have at least 20 years of compulsory social insurance contributions.

In addition to their pension, they receive a subsidy of 3 months of average salary for each year of early retirement; and a subsidy of 5 months of average salary for the first 20 years of work, with full payment of compulsory social insurance.

Workers subject to staff reduction will not have their pension benefits deducted (Illustration: To Linh).

From the 21st year onwards, for each year of work with compulsory social insurance payment, a subsidy of half a month's salary will be provided.

In addition, the subjects of staff reduction must be 2 years younger than the retirement age and have paid 20 years or more of compulsory social insurance, of which 15 years must be spent working in arduous, toxic, dangerous, or especially arduous, toxic, dangerous occupations or jobs, or 15 years must be spent working in areas with particularly difficult socio-economic conditions.

The subjects of staff reduction must be at least 2 years younger than the minimum retirement age and have at least 20 years of compulsory social insurance contributions.

The subjects of staff reduction are female commune-level cadres and civil servants whose age is 2-5 years lower than retirement age, and who have paid compulsory social insurance for 15 years but less than 20 years.

In this case, in addition to not having the rate deducted, the employee is also entitled to a subsidy of 5 months of average salary and 3 months of average salary for each year of early retirement.

Other cases

Cases where the pension rate is not deducted when an employee retires early, based on the provisions of the Law on Social Insurance 2014 and the Labor Code 2019, include: Employees who have worked for 15 years in areas with particularly difficult socio-economic conditions, including the time working in areas with a regional allowance coefficient of 0.7 or higher before January 1, 2021.

This applies to workers who have worked in particularly difficult areas and received regional allowances with a coefficient of 0.7 or higher. Workers only need to work for 15 years in these areas to be eligible for early retirement without having their pension rate deducted.

Workers working in areas with especially difficult socio-economic conditions will not have their pension rate deducted when they retire early (Illustration: Pham Nguyen).

Employees whose age is less than the maximum 10 years of the prescribed retirement age. For employees in this case, the retirement age is calculated by subtracting the maximum 10 years from the prescribed maximum age.

Workers who have worked in underground coal mining for at least 15 years, this provision applies to workers who have worked in underground coal mining for at least 15 years. People infected with HIV due to occupational accidents while performing assigned tasks.

Source link: https://dantri.com.vn/an-sinh/nhung-truong-hop-nghi-huu-som-khong-bi-tru-ty-le-huong-luong-huu-20230901211950800.htm