CIRCULAR

GUIDELINES ON ADJUSTMENTS TO PENSIONS, SOCIAL INSURANCE ALLOWANCES, AND MONTHLY ALLOWANCES

Pursuant to Decree No. 62/2022/ND-CP dated September 12, 2022 of the Government of Vietnam on functions, tasks, entitlements, and organizational structure of the Ministry of Labor - War Invalids and Social Affairs of Vietnam;

Pursuant to Decree No. 42/2023/ND-CP dated June 29, 2023 of the Government of Vietnam on adjustments to pensions, social insurance allowances, and monthly allowances (hereinafter referred to as "Decree No. 42/2023/ND-CP");

At the request of the Director of the Department of Social Insurance;

The Minister of Labor - War Invalids and Social Affairs of Vietnam hereby promulgates the Circular on guidelines on adjustments to pensions, social insurance allowances, and monthly allowances.

Article 1. Regulated entities

1. Persons prescribed in Points a, b, c, h, and i Clause 1 Article 1 of Decree No. 42/2023/ND-CP receiving pensions, social insurance allowances, and monthly allowances before July 1, 2023.

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Article 2. Adjustments to pensions, social insurance allowances, and monthly allowances

1. From July 1, 2023, pensions, social insurance allowances, and monthly allowances of persons prescribed in Clause 1 Article 1 of this Circular are adjusted as follows:

a) Increased by 12,5% compared to the amount of June 2023 adjusted by Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government of Vietnam.  Specifically:

Amount of pensions, social insurance allowances, and monthly allowances from July 2023

=

Amount of pensions, social insurance allowances, and monthly allowances in June 2023

x

1,125

b) Increased by 20,8% compared to the amount of June 2023 that was not adjusted in Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government of Vietnam.  Specifically:

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=

Amount of pensions, social insurance allowances, and monthly allowances in June 2023

x

1,208

2. From July 1, 2023, pensions, social insurance allowances, and monthly allowances for persons prescribed in Clause 2 Article 1 of this Circular after adjustments according to Clause 1 of this Article are as follows:

a) For persons who receive pensions, social insurance allowances, and monthly allowances below 2.700.000 VND per month:

Pensions, social insurance allowances, and monthly allowances after adjustments

=

Pensions, social insurance allowances, and monthly allowances after adjustments according to Clause 1 Article 2 of this Circular

...

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...

300.000 VND per month

b) For persons who receive pensions, social insurance allowances, and monthly allowances from 2.700.000 VND per month to below 3.000.000 VND per month: 

Pensions, social insurance allowances, and monthly allowances after adjustments

=

3.000.000 VND per month

Article 3. Implementation

1. People’s Committees of provinces and centrally affiliated cities shall direct Departments of Labor - War Invalids and Social Affairs and relevant agencies to disseminate, inspect, and urge the implementation of this Circular.

2. The Vietnam Social Security shall adjust pensions, social insurance allowances, and monthly allowances according to Decree No. 42/2023/ND-CP and guidelines prescribed in this Circular; prepare reports following the form enclosed with this Circular and send them to the Ministry of Labor - War Invalids and Social Affairs of Vietnam and the Ministry of Finance of Vietnam before December 31, 2023.

Article 4. Entry into force

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2. Clauses 1 and 2 Article 1, Article 2, Article 4, and Clause 2 Article 5 of Circular No. 37/2021/TT-BLDTBXH dated December 31, 2021 of the Minister of Labor - War Invalids and Social Affairs of Vietnam shall expire from the effective date of this Circular.

Difficulties that arise during the implementation of this Circular shall be reported to the Ministry of Labor - War Invalids and Social Affairs of Vietnam for study and settlement./.

PP. MINISTER
DEPUTY MINISTER




Nguyen Ba Hoan