Decree 158 of the Government, effective from July 1, details and guides the implementation of several articles of the Social Insurance Law on compulsory social insurance, clarifying the monthly allowance regime for those who do not meet the conditions to enjoy retirement benefits.
Accordingly, the regime for employees who do not meet the conditions to enjoy retirement benefits and are not old enough to receive social retirement allowances is implemented according to the regulations in Articles 23 and 24 of the Social Insurance Law and is detailed as follows:
Specifically, according to Decree 158, the subjects of application are employees as prescribed in Clause 1, Article 2 of the Law on Social Insurance, who are of retirement age and have social insurance payment history but do not meet the conditions to enjoy retirement benefits as prescribed and are not eligible for social retirement allowances under Article 21 of the Law on Social Insurance.
The condition for enjoyment is that the above-mentioned subjects do not enjoy social insurance benefits once, do not preserve the social insurance payment history, and have a request to enjoy the monthly allowance.
From July 1, those who do not meet the conditions to enjoy retirement benefits will receive a monthly allowance. Illustrative image.
The period for enjoying the monthly allowance is determined based on the employee’s social insurance payment history and basis.
The period for enjoying the monthly allowance is determined within the period from the month the employee has a written request upon reaching retirement age until they are eligible for a social retirement allowance under the law at the time of settlement.
In case the period of enjoying the monthly allowance exceeds the time until the employee is eligible for a social retirement allowance, the employee shall be entitled to a higher allowance amount according to Clause 2, Article 24 of this Decree.
If the period of enjoying the monthly allowance is not enough for the employee to receive the allowance until they are eligible for a social retirement allowance, and if the employee wishes to do so, they can make a one-time payment for the remaining period to continue receiving the allowance until they are eligible for the social retirement allowance…
Regarding the allowance amount, according to Decree 158, the monthly allowance amount is calculated based on the amount of the social retirement allowance prescribed in Clause 1, Article 22 of the Law on Social Insurance at the time of settlement of the allowance.
Clause 1, Article 22 of the Law on Social Insurance stipulates that the monthly social retirement allowance amount is determined by the Government in accordance with the socio-economic development conditions and the state budget capacity of each period. Every three years, the Government reviews and considers adjusting the amount of the social retirement allowance.
Depending on the socio-economic conditions, the ability to balance the budget, and mobilize social resources, the provincial People’s Committees shall submit to the Provincial People’s Councils to decide on additional support for those enjoying the social retirement allowance.
Also according to Decree 158, in case the period of enjoying the monthly allowance exceeds the time until the employee is eligible for a social retirement allowance, the employee shall be entitled to a higher allowance amount than the social retirement allowance at the time of settlement.
The allowance amount shall be adjusted when the Government adjusts retirement benefits as prescribed in Article 67 of the Law on Social Insurance.
The employee’s written request for the monthly allowance shall be made according to the form issued by Vietnam Social Insurance.
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