Conditions for early retirement with full pension
According to Article 5 of Decree 29/2023/ND-CP, cadres, civil servants and public employees subject to staff streamlining will be eligible for early retirement without having their pension rate deducted when meeting the following conditions:
Age is 2 - 5 years lower than the minimum retirement age as prescribed by law.
Have paid compulsory social insurance for 20 years or more, including:
Have 15 years of experience doing heavy, toxic, dangerous work (or especially heavy, toxic, dangerous work).
Or have 15 years of working in a particularly difficult socio-economic area, including working time in a place with a regional allowance coefficient of 0.7 or higher before January 1, 2021.
Specific cases of early retirement
To help readers visualize, the article will take a specific example as follows:
Example 1: Bank staff working in a disadvantaged area
Ms. Lan, 53 years old, is a bank officer at a branch in the Northwest mountainous region - where the regional allowance coefficient is 0.7. She has paid compulsory social insurance for 25 years. Due to the agency's streamlining of staff, she is:
Retire 5 years earlier than the minimum retirement age (60 years old).
Meet the conditions of 15 years of working in difficult areas and 20 years of social insurance payment.
Result: Ms. Lan is eligible for early retirement without any deduction from her pension rate.
Example 2: Staff working in a toxic environment
Mr. Hung, 55 years old, is a technical officer working in an environment exposed to toxic chemicals at a company in Ho Chi Minh City. He has:
18 years of working in hazardous jobs (list issued by the Ministry of Labor, War Invalids and Social Affairs).
22 years of mandatory social insurance.
Age 2 years lower than minimum retirement age (57 years old).
Result: Mr. Hung is eligible for early retirement and receives his full pension without deductions.
Example 3: Female commune-level cadres
Ms. Hoa, 50 years old, is a commune-level financial and accounting officer in the Mekong Delta region. Due to staff reduction, she:
Have paid compulsory social insurance for 18 years.
5 years below minimum retirement age (55 years old).
Result: Ms. Hoa received full pension even though she had not paid insurance for 20 years, due to special policy for female commune-level cadres.
Some notes
Civil servants and public employees who are downsized may receive additional allowances (such as a subsidy of 3 months of current salary, a subsidy of 1/2 month of average salary for each year of work with social insurance contributions).
Those who are pregnant, raising children under 36 months old, or are in the process of being inspected or examined will not be subject to staff reduction.
*If readers have further questions related to retirement conditions or social insurance policies, readers can directly contact the social insurance agency or the human resources department at the work unit for more detailed support.
