According to Government Decree No. 42/2023/ND-CP, pensions, social insurance allowances and monthly allowances will be raised by 12.5% to 20.8% for some specific target groups from July 1, 2023.

Payment of pensions to beneficiaries in Hanoi.

Therefore, unclaimed payments from July 2023 will also be made on August 14.

The increases will help to improve the lives of nearly 3.4 million people nationwide.

This is an increase in monthly pensions, social insurance allowances and monthly allowances compared to the old levels applied over the past 18 months according to Government Decree No. 108/2021/ND-CP.

The Government has adjusted monthly pensions and social insurance allowances six times from 2016 with the following adjustment rates: 8% (2016), 7.44% (2017), 6.92% (2018), 7.19% (2019), 7.4% (2022), and 12.5% - 20.8% (2023).

Loans offered to 68 business owners to pay for salary in production recovery and severance

(BGO) - The Bac Giang branch of Social Policy Bank has disbursed over 4.8 billion VND (210,986 USD) as the loan for four businesses to pay for salary in production recovery and severance to 1,049 labours in line with the Government’s Resolution No.68 on July 1, 2021 and PM’s Decision No.23 on July 7, 2021 about implementation of policies to support employers and employees affected by Covid-19 pandemic.

Companies pay same starting salary for new graduates from Vietnam and abroad

For the first time in many years, the starting salary of new graduates from Vietnamese universities and overseas universities is the same (about 10.6 million VND, or 443.5 USD, per month), according to the Talent-Mercer Total Remuneration Survey (TRS) 2022.

Beneficiaries of minimum wage hike from July 1, 2023

The Vietnamese government has issued a decree on raising the minimum wage to 1.8 million VND (76.7 USD) per month for public employees and members of the armed forces from July 1, 2023.

Regional minimum wage to increase starting in July

A new decree raising the regional minimum wage for labourers was approved on June 12 by Deputy Prime Minister Pham Binh Minh.

Factories raise wages amid increasing cost of living

Factories in HCMC and neighboring Binh Duong Province have raised workers’ wages to help them cope with the rising cost of living.

Source: NDO