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1.8 Million People to Get Higher Pensions, Allowance

 

VietNamNet Bridge

 

September 15, 2008

 

Vietnam

 

As of October 1, around 1.8 million retired people and state employees will enjoy a 15% increase in pensions and allowances.

The government is also considering increasing the allowances of more than 1.5 million people who contributed to wars of resistance in the past.

There are four groups of people who will benefit from the increase of pensions and allowances: retired people; state employees who are physically incapacitated and get allowances; commune and ward-level state employees who receive pensions and allowances; and commune and ward-level state employees who receive monthly allowances.

The Ministry of Labour, War Invalids and Social Affairs estimates that these groups comprise around 1.8 million people. The funding for this will come from the state budget and the social insurance fund.

According to the salary reform roadmap, on January 1, 2009, the pension for retired people will rise, but with the present level of inflation, the government has decided to increase pensions early.

The Ministry of Labour, War Invalids and Social Affairs has also submitted to the government a decree to raise the allowances of those who contributed to wars of resistance in the past. The decree may be issued in the next several days to take effect on October 1.

It is said that these people, numbering around 1.5 million people, will enjoy an allowance increase of 15%.

On January 1, 2008, the government increased pensions and allowances of people who contributed to wars of resistance by 20%.


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