NA votes to increase retirement age

Retirement age to gradually increase each year starting from 2021.

The retirement age will rise gradually according to a roadmap. Starting from January 1, 2021, it will increase by three months every year for men so that by 2028 their retirement age is 62, and four months every year for women so their retirement age is 60 by 2035.

According to Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, adjustments to the retirement age are applicable to employees in good health and working in normal employment conditions. For workers in heavy and hazardous conditions or in under-developed areas, there will be another roadmap and specific guidance from the government.

Employees working in hazardous environments or in manual work are entitled to retire earlier, but by no more than five years (that is, 55 years old). If their health declines to 61 per cent, would can retire even earlier.

For highly-qualified workers, the retirement age may be extended, but not for more than five years (that is, 65 years old). During any period of extension, they are not allowed to take on management roles and instead will become experts.

There is also a new point in the amended law, stating that employees have one more public holiday at full pay.

On Vietnam National Day, September 2, employees will be entitled to two consecutive days off, in place of a day off on Vietnamese Family Day, June 28; a move some delegates had suggested earlier.

[Source: vneconomictimes 21st November 2019]