Early retirement cases in 2024 will receive full salary

According to Decree 135/2020 of the Government, the retirement age of employees under normal conditions in 2024 is 61 years old for male employees and 56 years and 4 months old for female employees. If an employee retires before the prescribed age, it is considered early retirement.

Because the Social Insurance Law 2024, which has just been passed by the National Assembly, will not take effect until July 1, 2025, the current Social Insurance Law will still apply to cases where employees retire before the age of 2024.

According to Article 54 of the Social Insurance Law 2014, most cases of early retirement will have their benefit rate deducted at a rate of 2% for each year of early retirement, except for some cases.

When can civil servants and public employees retire early without having their pension benefits deducted?

According to Article 5 of Decree 29/2023 of the Government, cadres, civil servants and public employees can retire early without having their pension rate deducted when they fall into 5 cases of staff reduction, including:

The first, the subject of staff reduction must be at least 5 years younger than the maximum and at least 2 years younger than the lowest retirement age according to regulations, and must have paid compulsory social insurance for 20 years or more.

Including 15 years of working in a arduous, toxic, dangerous or especially arduous, toxic, dangerous job on the list issued by the Ministry of Labor, War Invalids and Social Affairs (MOLISA), or 15 years or more working in an area with particularly difficult socio-economic conditions issued by the MOLISA (including working time in an area with a regional allowance coefficient of 0.7 or higher before January 1, 2021).

Monday, the subject of staff reduction whose age is lower than the maximum 5 years and lower than the minimum 2 years compared to the retirement age under normal working conditions according to regulations, and has paid 20 years or more of compulsory social insurance, is entitled to pension according to the provisions of Article 54 of the Law on Social Insurance 2014 (amended by Point a, Clause 1, Article 219 of the Labor Code 2019).

Tuesday, the subject of staff reduction has a minimum age 2 years lower than the lowest retirement age and has 20 years or more of compulsory social insurance contributions.

Including 15 years of working in a arduous, toxic, dangerous or especially arduous, toxic, dangerous job on the list issued by the Ministry of Labor, War Invalids and Social Affairs, or 15 years of working in an area with particularly difficult socio-economic conditions issued by the Ministry of Labor, War Invalids and Social Affairs, including working time in an area with a regional allowance coefficient of 0.7 or higher before January 1, 2021.

Wednesday, the subject of staff reduction has a minimum age 2 years lower than the retirement age under normal working conditions and has 20 years or more of compulsory social insurance contributions.

ThursdayThe subjects of staff reduction are female cadres and civil servants at the commune level whose age is at least 5 years lower than the maximum and at least 2 years lower than the retirement age under normal working conditions and who have paid compulsory social insurance for 15 years to less than 20 years.

Cases where employees retire early are not subject to a deduction in their pension rate.

Pursuant to Article 54 of the Law on Social Insurance 2014 (amended by Point a, Clause 1, Article 219 of the Labor Code 2019), cases of early retirement without deduction of pension rate include:

The first, employees who have worked for 15 years in areas with especially difficult socio-economic conditions, including working time in areas with regional allowance coefficient of 0.7 or higher before January 1, 2021.

Monday, employees who are of legal age as prescribed in Article 169 of the 2019 Labor Code, have at least 15 years of experience in a arduous, toxic, dangerous or especially arduous, toxic, dangerous job on the list issued by the Ministry of Labor, Invalids and Social Affairs or have at least 15 years of experience in an area with particularly difficult socio-economic conditions, including time spent working in an area with a regional allowance coefficient of 0.7 or higher before January 1, 2021.

Tuesday, employees whose age is a maximum of 10 years lower than the retirement age of employees specified in Clause 2, Article 169 of the 2019 Labor Code.

Including 15 years of working in underground coal mining as prescribed in Point c, Clause 1, Article 54 of the 2014 Law on Social Insurance (amended by Point a, Clause 1, Article 219 of the 2019 Labor Code); people infected with HIV due to occupational accidents while performing assigned tasks.