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One-off allowance for retirement

Sat, 15 Jul 2017 22:11:30 PM GMT + 7    Print   Email   Share:

 (Chinhphu.vn) – Mr. Do Trong Luyen (in Son La Province) has been working in Education since September 1980. He is currently holding the position of Principal with salary coefficient of 4.98, over 14%, position allowance of 45%, seniority allowance for teachers 34%. Area allowance 0.5%. Mr. Luyen asks, on January 1, 1977, how much was  his salary? Which items does he  pay?

 

Lawyer Tran Van Toan, Khanh Hung Lawyer Office- Hanoi Bar Association responds Mr. Luyen as follows:

According to Clause 1, Article 56 of the Social Insurance Law (in 2014), From the effective date of this Law to January 1, 2018, the monthly pension of employees who fully satisfy the conditions specified in Article 54 of this Law must equal 45% of the average monthly salary on which social insurance premiums are based as prescribed in Article 62 of this Law, corresponding to 15 years of social insurance premium payment, which shall be added with 2%, for men, or 3%, for women, for each additional year of social insurance premium payment, but must not exceed 75%.

Point a, Clause 1, Article 62 of the Law on Social Insurance has prescribed, For employees subject to the State-prescribed salary regime and having the entire period of social insurance premium payment under this salary regime,  the average monthly salary on which social insurance premiums are based in the last 5 years prior to retirement, for employees paying social insurance premiums before January 1, 1995;

Clause 1 of Article 89 of the Law on Social Insurance has stipulated: For employees subject to the State-prescribed salary regime, their monthly salary on which social insurance premiums are based is their rank- or grade-based salary plus position-based, extra-rank working seniority-based or occupation-based seniority allowance (if any).

The information provided by Mr Luyen only shows the salary and allowances at the time before retirement. It is unclear how the monthly salary paid for social insurance is paid for the last 5 years before retirement. Therefore, there is not enough data to calculate in detail, the level of pension he is entitled to.

We recommend Luyen to match the above rules with the salary changes and the social insurance premiums last 5 years (60 months) before retirement to clear your pension.

In addition to the monthly pension received monthly salary equal to 75% of the average monthly salary paid social insurance of the last 5 years before retirement. Pursuant to Article 58 of the Law on Social Insurance, Luyen is also entitled to one-time allowance before retirement. The level of lump-sum allowance is calculated according to the number of years of paying social insurance premiums higher than the number of years corresponding to the pension rate of 75%, each year of paying social insurance premium shall be equal to 0.5 month's monthly salary.

Lawyer Tran Van Toan

Khanh Hung Lawyer Office- Hanoi Bar Association

  • By : Online Newspaper of the Government / Translator: HaiYen-Bizic

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