Retirement conditions due to downsizing without salary deduction

Wed, 26 Jan 2022 11:33:00  |  Print  |  Email   Share:

Subjects of downsizing specified in Article 6 of Decree 143/2020/ND-CP if their age is at most 5 years old and at least 2 years younger than the retirement age specified in Clause 2, Article 169 Labor Code and have paid social insurance premiums for full 20 years or more, getting the retirement regime in accordance with the law on social insurance, and not be deducted the pension rate due to early retirement.

Mr. Le Ngoc Tu was born on March 21, 1966, he wishes to retire under the policy of downsizing the payroll in 2022 to enjoy early retirement under normal working conditions, he has full years to contribute compulsory social insurance.

In Document No. 223/BLDTBXH-BHXH dated January 28, 2021 of the Ministry of Labor, War Invalids and Social Affairs, it is stated: "It should be based on the time of downsizing and the retirement age of that year". To reduce payroll in 2022, the retirement age in 2022 for men is 60 years and 6 months. By the end of December 2021, he will be 55 years and 9 months old (the number of years and months before the age of retirement is 4 years and 9 months).

Mr. Tu asked, is the time of resignation under the downsizing policy in your case is January 1, 2022?

Regarding this issue, Vietnam Social Security replied as follows:

In Clause 2, Article 1 of Decree No. 143/2020/ND-CP dated December 10, 2020 of the Government amending and supplementing Article 8 of Decree No. 108/2014/ND-CP dated November 20, 2014 of the Government and Clauses 6 and 7, Article 1 of Decree No. 113/2018/ND-CP dated August 31, 2018 of the Government stipulating: The subjects of downsizing the payroll specified in Article 6 of this Decree if they are of a lower age at least full 5 years old and at least full 2 years younger than the retirement age specified in Clause 2, Article 169 of the Labor Code and have paid social insurance premiums for full 20 years or more, and are entitled to the retirement regime as prescribed by law on social insurance, the pension rate is not deducted due to early retirement.

The consideration of leaving employees under the downsizing policy is not under the authority of the social insurance agency but under the authority of the employee management agency. It is recommended that you contact the management agency where you work for specific answers about the policy of downsizing the payroll according to your wishes.

Regarding the settlement of retirement benefits for him, the Social Insurance Agency will base on the dossiers made and transferred by the employer, in case he is eligible for entitlement as prescribed, the social insurance agency will consider to consider and settle in a timely manner to ensure his interests.

 

By: Translator: LeAnh-Bizic

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