Circular No. 18/2017/TT-BLDTBXH dated June 30, 2017 of the Ministry of Labor, War Invalids and Social Affairs guiding the adjustments in pensions, social insurance benefits and monthly benefits prescribed in Clauses 1, 2, 3 and 8 Article 1 Decree No. 76/2017/ND-CP dated June 30, 2017

THE MINISTRY OF LABOUR, WAR INVALIDS AND SOCIAL AFFAIRS

Circular No.  18/2017/TT-BLDTBXH dated June 30, 2017 of the Ministry of Labor, War Invalids and Social Affairs guiding the adjustments in pensions, social insurance benefits and monthly benefits prescribed in Clauses 1, 2, 3 and 8 Article 1 Decree No. 76/2017/ND-CP dated June 30, 2017

Pursuant to the Government’s Decree No. 14/2017/ND-CP dated February 17, 20127 defining the functions, tasks, powers and organizational structure of Ministry of Labor, War Invalids and Social Affairs;

Pursuant to the Government’s Decree No. 76/2017/ND-CP dated June 30, 2017 on adjustments to pensions, social insurance benefits and monthly benefits (hereinafter referred to as the Decree No. 76/2017/ND-CP);

At the request of the Director of Social Insurance Department;

Minister of Labor, War Invalids and Social Affairs promulgates this Circular guiding adjustments in pensions, social insurance benefits and monthly benefits prescribed in Clauses 1, 2, 3 and 8 Article 1 of the Government s Decree No. 76/2017/ND-CP dated June 30, 2017.

Article 1. Subject of application

This Circular applies to the entities prescribed in Clauses 1, 2, 3 and 8 Article 1 of the Decree No. 76/2017/ND-CP.

Article 2. Adjustments in pensions, social insurance benefits and monthly benefits

As of July 01, 2017, the entities prescribed in Article 1 herein shall have an increase of 7.44% in their pensions, social insurance benefits and monthly benefits compared with those they received in June, 2017. To be specific:

E.g.1: The pension paid to Mr. A in June, 2017 is VND 4,500,000/month.

As of July, 2017, the pension paid to Mr. A shall be calculated by adopting the following formula:

VND 4,500,000/month x 1.0744 = VND 4,834,800/month

E.g.2: Mr. B is a retired official of commune and entitled to monthly benefit according to regulations in the Decree No. 09/1998/ND-CP. The monthly benefit paid to him in June, 2017 is VND 1,970,000/month.

As of July, 2017, the monthly benefit paid to Mr. B shall be calculated by adopting the following formula:

VND 1,970,000/month x 1.0744 = VND 2,116,568/month

E.g.3: Mrs. C quit job and is enjoying monthly disability benefit. The disability benefit amount paid to her in June, 2017 is VND 2,000,000/month.

As of July, 2017, the disability benefit paid to Mrs. C shall be calculated by adopting the following formula:

VND 2,000,000/month x 1.0744 = VND 2,148,800/month

E.g.4: Mrs. D met with an occupational accident and is enjoying monthly occupational accident benefit. The occupational accident benefit amount paid to her in June, 2017 is VND 960,000/month.

As of July, 2017, the occupational accident benefit paid to Mrs. D shall be calculated by adopting the following formula:

VND 960,000/month x 1.0744 = VND 1,031,424/month

Article 3. Implementation organization

1. People’s Committees of provinces or central-affiliated cities shall instruct Provincial Departments of Labor, War Invalids and Social Affairs and relevant authorities to disseminate and inspect the implementation of regulations herein.

2. Vietnam Social Security Authority shall be responsible for making adjustments in pensions, social insurance benefits and monthly benefits in adherence to regulations in the Decree No. 76/2017/ND-CP and provisions herein; submitting report thereof using the template provided herein to the Ministry of Labor, War Invalids and Social Affairs and Ministry of Finance by January 15, 2018.

Article 4. Effect

This Decree takes effect on August 15, 2017. Benefits provided for in this Decree shall be applied as from July 01, 2017.

Any difficulties arising in the course of implementation of this Circular should be reported to the Ministry of Labor, War Invalids and Social Affairs for consideration./.

For the Minister

The Deputy Minister

Doan Mau Diep

APPENDIX

REPORT ON ADJUSTMENTS IN PENSIONS, SOCIAL INSURANCE BENEFITS AND MONTHLY BENEFITS UNDER THE DECREE NO. 76/2017/ND-CP
(Attached with the Circular No. 18/2017/TT-BLDTBXH dated June 30, 2017 by Ministry of Labor, War Invalids and Social Affairs)