Adjusting pensions, social insurance benefits and monthly allowances, Hanoi City Social Insurance has just issued a notice on adjusting pensions, social insurance benefits and monthly allowances.

The announcement stated that on June 29, 2023, the Government issued Decree No. 42/2023/ND-CP on adjusting pensions, social insurance benefits and monthly allowances, effective from August 14, 2023, the provisions of this Decree are implemented from July 1, 2023.

Accordingly, from July 1, 2023, an additional 12.5% ​​increase will be made to the pension, social insurance benefits and monthly allowances of June 2023 for subjects that have been adjusted according to Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government on adjusting pensions, social insurance benefits and monthly allowances (pensioners, monthly social insurance benefits before January 1, 2022).

Adjust the increase by 20.8% on the pension, social insurance benefits and monthly allowances of June 2023 for the subjects specified in Clause 1, Article 1 of this Decree that have not been adjusted according to Decree No. 108/2021/ND-CP dated December 7, 2021 of the Government adjusting pensions, social insurance benefits and monthly allowances. (Recipients of pensions and monthly social insurance benefits from January 1, 2022 to before July 1, 2023).

Those who received monthly pensions and social insurance benefits before January 1, 1995 as prescribed in Clause 2, Article 1 of this Decree, after making adjustments according to Clause 1, Article 2 of Decree No. 42/2023/ND-CP, if their benefit level is lower than VND 3,000,000/month, will be adjusted to increase as follows: Increase by VND 300,000/person/month for those with a benefit level below VND 2,700,000/person/month; Increase by VND 3,000,000/person/month for those with a benefit level from VND 2,700,000/person/month to less than VND 3,000,000/person/month.

In order to promptly pay pensions and social insurance benefits for July 2023 to beneficiaries, Hanoi Social Insurance Agency will temporarily pay according to the June 2023 benefit level. When there is a guiding Circular from the Ministry of Labor, War Invalids and Social Affairs and a directive document from Vietnam Social Insurance, Hanoi Social Insurance will make adjustments in accordance with regulations. Particularly for those who have a Decision to receive pensions and social insurance benefits from July 1, 2023, the basic salary of VND 1,800,000 has been calculated according to Decree 24/2023/ND-CP.