NDO/VNA - Pension and social insurance allowances and monthly subsidy will increase by 11% from January 1,
HCMC – The National Assembly of Vietnam has decided to raise the minimum monthly salary to VND1.8 million as of July 1, 2023.
On November 11, at the fourth meeting of the 15th National Assembly, the NA passed a resolution on the state budget for 2023. Accordingly, the minimum monthly salary for officials, civil servants and public employees will rise from VND1.49 million to VND1.8 million from July 1, 2023.
Social insurance and pensions will be raised by 12.5% for those covered by the state budget.
People who retired before 1995 with low pensions will receive more financial aid.
The total expense for reforming salaries, allowances and social security in 2023 is estimated at VND12,500 billion.
The previous adjustment of minimum salaries took place on July 1, 2019, increasing from VND1.39 million to VND1.49 million.