Question: I have been working in a government agency since 2000, and at the beginning of this year, I started working for a company. So how will my pension be calculated when I reach retirement age?
Reply:According to Vietnam Social Security, Clause 3, Article 9 of Decree No. 115/2015/ND-CP of the Government stipulates:
When calculating the average monthly salary for social insurance payment to calculate pension and one-time allowance of employees who have both a period of social insurance payment subject to the salary regime prescribed by the State and a period of social insurance payment subject to the salary regime decided by the employer, the average monthly salary for social insurance payment of all periods is calculated, in which:
1. The period of social insurance payment under the salary regime prescribed by the State is calculated as the average monthly salary for social insurance payment according to the provisions of Clause 1 of this Article based on the time of starting to participate in compulsory social insurance.
Specifically: If you start participating in social insurance before January 1, 1995, the average monthly salary for social insurance contributions of the last 5 years before retirement will be calculated.
If you start participating in social insurance between January 1, 1995 and December 31, 2000, the average monthly salary for social insurance contributions of the last 6 years before retirement will be calculated.
If you start participating in social insurance between January 1, 2001 and December 31, 2006, the average monthly salary for social insurance contributions of the last 8 years before retirement will be calculated.
If you start participating in social insurance between January 1, 2007 and December 31, 2015, the average monthly salary for social insurance contributions of the last 10 years before retirement will be calculated.
Starting to participate in social insurance from January 1, 2016 to December 31, 2019, the average monthly salary for social insurance contributions of the last 15 years before retirement is calculated.
Starting to participate in social insurance from January 1, 2020 to December 31, 2024, the average monthly salary for social insurance contributions of the last 20 years before retirement will be calculated.
Starting to participate in social insurance from January 1, 2025 onwards, the average monthly salary for social insurance payment for the entire period will be calculated.
2. The period of social insurance payment according to the salary regime decided by the employer shall be calculated as the average monthly salary for social insurance payment of the entire period.
Therefore, you base on the above regulations, compare with the salary regime that each employee has received during the entire working process, the time the employee started working and paying social insurance to determine the calculation of the average monthly salary for social insurance payment as the basis for calculating social insurance benefits.
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