Banks raise deposit interest rates
In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio ...
Franchise explosion in Vietnam
Franchise has facilitated many foreign brands to break into Vietnam. In addition to franchise industry for food, beverage or education, franchising in goods retail industry...
6 leading economic sectors in Central region
There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results ...
91.9% companies are optimistic about production activities in the last 6 months this year
FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume ...
CPTPP makes shift of Vietnam from deficit to surplus
Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend ...
- 12 / 08 / 2018 -
New guidelines on adjusting pensions and social insurance allowance

On June 29th 2018, the Ministry of Labor, Invalids and Social Affairs (MOLISA) issued the Circular No. 05/2018/TT-BLDTBXH guiding the adjustment of pensions, social insurance benefits and monthly allowance to the subjects defined in Clauses 1, 2, 3 and 8, Article 1 of Decree No. 88/2018/ND-CP issued by the Minister of Labor, War Invalids and Social Affairs. The Circular No. 05/2018 / TT-BLDTBXH will be effective from 15th August 2018

Accordingly, as from July 1st, 2018, the level of pensions, Social Insurance (“SI”) and monthly allowances (below referred to as “benefit levels”) will be adjusted in the upward trend, detailed as follows:

Firstly, the objects to be applied include:

  • Cadres, officer, workers, civil servants, laborers, military personnel, people’s policemen and caliber workers who are enjoying monthly pensions;
  • Officials of communes, wards and townships defined in Decree No. 92/2009/ND-CP of October 22th, 2009, Decree No. 121/2003/ND-CP dated on October 21st, 2003 and Decree No.09/1998/ND-CP dated on January 23rd, 1998, enjoying monthly pensions and allowances;
  • Persons who are receiving monthly disablement pension; Those who are receiving monthly allowances under Decision No.91/2000/QD-TTg of August 4th, 2000, Decision No. 613/QD-TTg dated on May 6th, 2010; Rubber workers are receiving monthly allowance;
  • Persons who are receiving monthly labor accident or occupational disease allowances.

Second, the increasing level:

  • The level of pension, social insurance and monthly allowance of the above mentioned beneficiaries was increased by 6.92% compared to the level of pension, social insurance and monthly allowance of 06/2018. Specifically:
  • The level of pension benefits from July 2018 = The level of pension benefits in June, 2018 x 1,0692

Therefore, As of July 1st, 2018, the level of pensions, social insurance benefits and subsidies will be adjusted in an incremental manner, which is a necessary adjustment in accordance with the fluctuation of market prices, volatility of the Vietnamese economy today