Early retirees enjoy great benefits

HƯƠNG NHA |

The policy for early retirees is clearly stated in Decree No. 178/2024/ND-CP dated December 31, 2024 of the Government.

At the press conference of the Ministry of Home Affairs on the afternoon of December 31, Director of the Department, Chief of Office of the Party Committee of the Ministry of Home Affairs Nguyen Quang Dung presented the content of Decree No. 178/2024/ND-CP dated December 31, 2024 of the Government on regimes and policies for cadres, civil servants, public employees, workers and armed forces in implementing the organizational arrangement of the political system.

According to Mr. Nguyen Quang Dung, Decree 178 consists of 3 chapters and 27 articles; in which, policies and regimes are regulated from Article 7 to Article 16.

The content of Decree 178 has 8 important policies, notably: Policy for people retiring before age.

Accordingly, in case of being 10 years or less older than retirement age under normal working conditions and 5 years or less older than retirement age under working conditions in particularly difficult areas and having paid compulsory social insurance for retirement, they will enjoy 3 regimes:

First, receive a one-time pension benefit for early retirement:

In case of leaving within 12 months: If the remaining age is 5 years or less until retirement age, the employee will receive a subsidy equal to 1 month of current salary multiplied by the number of months of early leave. If the remaining age is 5 years to 10 years until retirement age, the employee will receive a subsidy equal to 0.9 month of current salary multiplied by 60 months.

In case of leave from the 13th month onwards, the benefit is equal to 0.5 of the above 12-month leave allowance.

Second, enjoy early retirement policy:

Receive pension and not have pension rate deducted; receive early retirement allowance (people with 2 years to less than 5 years left until retirement age will receive 5 months of current salary for each year of early retirement; people with 5 years to 10 years left until retirement age will receive 4 months of current salary for each year of early retirement); receive allowance based on working time with more than 20 years of compulsory social insurance contributions.

In case of having less than 2 years left until the prescribed retirement age and having enough working time with compulsory social insurance payment to receive pension, they will receive pension according to regulations and will not have their pension rate deducted due to early retirement.

Cadres, civil servants and public employees who retire early and are eligible for rewards for their contributions but still lack the working time in a leadership position at the time of retirement will have their early retirement period calculated to correspond to the remaining time of the election term or the appointment period of the current position to be considered for rewards for their contributions.

For cadres, civil servants and public employees who are not eligible for rewards for their contributions, competent authorities will consider forms of rewards appropriate to their achievements.

According to Mr. Nguyen Quang Dung, this time, when streamlining the apparatus, there will be a general review and assessment of the quality of cadres, civil servants, public employees and workers in the political system. From there, the different levels of work completion of each person will be determined.

Responding to the press about the outstanding policy of encouraging cadres, civil servants and public employees to voluntarily reduce their payroll as stipulated in this decree, Mr. Dung said: This decree is not an encouragement but rather the competent authorities will issue evaluation criteria; then, determining those who are eligible to retire, the competent authorities will decide to retire.

"During the process of restructuring the apparatus, there will be people who are subject to the application, and those who voluntarily resign will be encouraged," said Mr. Nguyen Quang Dung.

This Decree inherits Decree 29/2023/ND-CP regulating staff streamlining, but the subsidy levels increase.

"Those who have 5 years of work left will receive the full salary of 60 months and the early retirement policy. That means they can retire without deductions, receive subsidies based on the number of years they retired early, and receive a 3-month subsidy. This policy is really great," Mr. Nguyen Quang Dung emphasized.

HƯƠNG NHA
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