YouMe Law Firm LLC said: The 15% pension increase is stipulated in Decree 75/2024/ND-CP, those who are eligible for a pension increase under Decree 75 will receive a pension in March 2025 above the 15% increase.
According to the provisions of Article 2 of Decree 75/2024/ND-CP, the adjustment to increase the pension level by 15% in June 2024 for subjects specified in Clause 1, Article 1 of Decree 75/2024/ND-CP.
Accordingly, from July 1, 2024, people receiving pensions under Clause 2, Article 1 of Decree 75/2024/ND-CP will be adjusted to increase their pensions by 15% according to the above regulations, with a lower benefit level of VND 3,500,000/month, they will be adjusted to increase:
Increase by VND 300,000/person/month for those with a benefit level of less than VND 3,200,000/person/month;
Increase by 3,500,000 VND/person/month for those with a benefit level of 3,200,000 VND/person/month to less than 3,500,000 VND/person/month.
Note, the March 2025 pension of the above employees will be received above the 15% increase, except for employees who retired before 1995 and will be increased according to Clause 2, Article 2 of Decree 75/2024/ND-CP.
Thus, the pension level for March 2025 of employees after the increase of 15% is calculated by the formula:
Pension level for March 2025 = Pension level for June 2024 x 1.15.
The pension level for March 2025 will be increased by 15% and adjusted to increase further:
For those with a pension level of less than VND 3,200,000/month after the 15% increase:
The pension level for March 2025 after adjustment = The pension level for June 2024 x 1.15 + 300,000 VND/month.
For those with a pension level from VND 3,200,000/month to less than VND 3,500,000/person/month after the 15% increase:
The pension level for March 2025 after adjustment = 3,500,000 VND/month.
