1. Providing guidelines for adjustments to pensions, social insurance benefits
The Circular No. 05/2018/TT-BLDTBXH provides guidelines for adjustments to pensions, social insurance benefits and monthly benefits for the entities specified in Clauses 1, 2, 3 and 8 Article 1 of the Decree No. 88/2018/ND-CP.
According to the Circular, pensions and social insurance benefits for the following entities from July 2018 equal the ones from June 2018 multiplied (x) by 1,0692:
- Public officials, public employees, workers, soldiers, people’s policemen and cipher officers who are receiving monthly pensions.
- Officers of communes, wards and commune-level towns prescribed in Government's Decree No. 92/2009/ND-CP dated October 22, 2009, Government's Decree No. 121/2003/ND-CP dated October 21, 2003 and Government's Decree No. 09/1998/ND-CP dated January 23, 1998 who are receiving monthly pensions and monthly benefits.
- Those who are receiving monthly benefits for whole person impairment; those who are receiving monthly benefits as prescribed in Decision No. 91/2000/QD-TTg dated August 4, 2000, Decision No. 613/QD-TTg dated May 6, 2010 of the Prime Minister; rubber workers who are receiving monthly benefits.
- Those who are receiving monthly occupational accident and disease benefits.
The Circular No. 05/2018/TT-BLDTBXH comes into force from August 15, 2018.
2. Increasing monthly benefits for retired officials of communes
According to the Circular No. 08/2018/TT-BNV the monthly benefits (rounded) for old and weak retired officials of communes from July 1, 2018 shall be adjusted as follows:
- Regarding the former official who is the Secretary of the Party Committee or President of People's Committee of the commune: 1,846,000 VND / month x 1,0692 = 1,974,000 VND / month.
- Regarding the former official who is the Deputy Secretary of the Party Committee, standing member of the Party Committee, member of the secretariat of People’s Committee, Secretary of People's Council, chief of commune military unit or chief of the police authority of the commune: 1,786,000 VND / month x 1,0692 = 1,910,000 VND / month.
- Regarding other titles: 1,653,000 VND / month x 1,0692 = 1,768,000 VND / month.
The Circular No. 08/2018/TT-BNV comes into force from August 15, 2018 and replaces the Circular No 04/2017/TT-BNV The regulations on benefits defined in this Circular take effect from July 01, 2018.
3. Increasing salary paid to officers of the People’s Army from July 01, 2018
The Circular No. 88/2018/TT-BQP (effective from August 12, 2018) provides guidelines for application of the statutory pay rate to the entities who are receiving salary or military rank-based allowances covered by the state budget within affiliates of the Ministry of National Defense.
According to the Circular, the statutory pay rate will be increased by 1,390,000 from July 01, 2018, military rank-based salary paid to officers of the People’s Army is increased accordingly.
The officers of the People’s Army whose military rank-based salary will be increased by over VND 700,000 from July 01, 2018:
- General: VND 14,456,000 (increased by VND 936,000);
- Senior Lieutenant General: VND 13,622,000 (increased by VND 882,000);
- Lieutenant general: VND 12,788,000 (increased by VND 828,000);
- Major General: VND 11,954,000 (increased by VND 774,000);
- Colonel: VND 11,120,000 (increased by VND 720,000);
The regulations defined in this Circular take effect from July 01, 2018.
4. Rules for disregarding objective factors upon determining salary budgets at VAMC
The Circular No. 04/2018/TT-BLDTBXH (effective from August 15, 2018) amends the Circular No.37/2016/TT-BLDTBXH on providing guidelines for management of employees, salaries, remunerations and bonuses paid to employees working in Vietnam Asset Management Company (VAMC).
According to the Circular, the disregarding of objective factors upon determining salary budgets for employees working in VAMC shall be carried out according to the following rules:
- The labor productivity or the difference between revenues and expenses that is affected by such objective factors must be quantified and expressed in specific figures.
- When calculating the annual labor productivity or the difference between revenues and expenses, VAMC may add (or deduct) the amount of labor productivity or the difference between revenues and expenses decreased (or increased) due to such objective factors.
- Upon determining its realized salary budget, VAMC must take into account the objective factors that may exert impacts on the labor productivity or the difference between revenues and expenses compared with the planned ones.
According the new regulation on rules for disregarding of objective factors, the phrase “số tiền thu hồi các khoản nợ xấu được mua bằng trái phiếu đặc biệt” (“recovered amount of bad debts bought with special bonds”) is replaced with “chênh lệch thu chi” (“difference between revenues and expenses”).
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