Pensions will be adjusted to increase from July this year. However, the specific pension increase needs to wait for the Government's regulations.
Adjustments to pensions, social insurance benefits, monthly allowances, preferential allowances for meritorious people... will be implemented from July 1, 2024, according to Resolution No. 104/2023 on the 2024 State budget estimate approved by the National Assembly on November 10, 2023.
Accordingly, the National Assembly resolved to approve the 2024 State budget estimate with budget revenue of more than 1.7 million billion VND.
The remaining revenue from local budget salary reform by the end of 2023 transferred to the 2024 budget of some localities is more than 19,000 billion VND to implement the basic salary of 1.8 million VND/month.
Regarding salary reform, the National Assembly Resolution clearly states that from July 1, 2024, comprehensive salary policy reform will be implemented according to Resolution No. 27 of the 7th Conference of the 12th Central Executive Committee.
Funding for salary reform implementation is guaranteed from the accumulated salary reform fund of the central budget, local budgets and a part arranged in the State budget balance expenditure estimate.
At the same time, adjust pensions, social insurance benefits, monthly allowances, preferential allowances for meritorious people and some social security policies currently linked to the basic salary.
Thus, the above regulation means that pensions will be adjusted to increase from July 1, 2024. However, the specific increase in pensions needs to wait for the Government's regulations.
HA (synthetic)