According to the lawyer, the calculation of pension in 2022 will be based on Article 55 and Article 74 of the Law on Social Insurance 2014.

How to calculate pension in 2022

Regarding how to calculate pension in 2022, lawyer Pham Quang Xa - Director of XTVN Law Firm, Hanoi Lawyers Association said:

In 2022, the retirement age under normal working conditions for male employees will be 60 years and 6 months, for female employees, it will be 55 years and 8 months (according to Clause 2, Article 4 of Decree No. The Government's CP dated November 18, 2020 regulates the retirement age).

The minimum retirement age under normal working conditions in 2022 will be 55 years and 6 months for men and 50 years and 8 months for women.

Therefore, the calculation of pension in 2022 will be based on Articles 55 and 74 of the Law on Social Insurance 2014, as amended by the Labor Code 2019.

Male employees who retire from 2022 onward, if they have paid full 20 years of social insurance, are entitled to 45% (before that, in 2021, they only needed to pay for 19 years, they were entitled to 45%). After that, for each additional year of participating in social insurance, an additional 2% is charged, but the maximum benefit is 75%.

For example: Mr. A participates in social insurance for 30 years, if he retires in 2022, the first 20 years will be equivalent to 45%, each year by 2%, Mr. A will be added 2x10 = 20%. The total is 65%.

The calculation of pension for female employees who retire in 2022 is similar to that for male employees.

However, the benefit rate is different.

Specifically, if female employees pay full 15 years of social insurance, they are entitled to 45%. After that, each additional year is charged an additional 2% and the maximum benefit is 75%.

Thus, the calculation of pension in 2022 for retirees in this year is basically the same as in 2021 in terms of calculating the average salary/monthly income on which social insurance contributions are based and the pension rate of female employees. The biggest difference is the pension rate of male workers and the table of slippage coefficients (currently not yet issued).