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Official Gazette

Sunday, August 20, 2017

Early retired officials not subjected to pension reduction

Updated: 10:36’ - 13/03/2015
The Government on March 9 issued a decree promulgating regulations and policies applicable to officials who are too old for reelection or reappointment to termed positions and titles in the agencies of the Communist Party of Vietnam, the State and other socio-political organizations.

Specifically, Decree No. 26/2015/ND-CP provides policies applicable to three categories of officials ineligible to be reelected or reappointed to the aforesaid positions and titles, including officials who retire before reaching or continue working until the retirement age, or stop working to wait for attainment of the retirement age.

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Officials volunteer to retire early will not be subject to pension reduction__Photo: VNA

 

In case of early retirement, officials that have paid social insurance premiums for twenty years or more may enjoy full pensions in accordance with regulations on social insurance, provided they have filed requests for voluntary early retirement to their managing agencies. In addition, they are entitled to at least three months’ salary for each year short of the retirement age prescribed at Point a, Clause 1, Article 54 of the Law on Social Insurance.

The Decree also requires competent agencies to arrange appropriate works for officials who are no longer young enough for reelection or reappointment but do not wish to retire early. If the salary for the new position is lower than that for the previous one, the official may continue enjoying the previous salary level for the first 6 months of transfer, and start receiving the salary for the new position from the seventh month.

Meanwhile, officials with less than 2 years (24 months) short of the prescribed retirement age will be allowed to stop working if competent agencies do not arrange them in appropriate working positions. During the pending time, they may still enjoy the current position-based salaries and related allowances.

The new regulation, which replaces Government Decree No. 67/2010/ND-CP dated June 15, 2010, will take effect from May 1, 2015.-

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