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Age of retirement

VGP - The age of retirement for employees in normal working conditions is adjusted according to the roadmap until they reach 62 years of age for the male employees by 2028 and 60 years for the female employees by 2035.

04/07/2020 06:42

 
Question: What are fresh regulations on retirement ages as stipulated in the Labor Code 2019?

Answer:

The Labor Code 2012 stipulates that the employees who meet the conditions of period of social insurance premium payment under the provisions of the Law on Social Insurance are entitled to pension when the male employees are full 60 years old while the female employees are full 55 years old.

The Labor Code 2019 adjusted the retirement age as follows: the age of retirement for employees in normal working conditions is adjusted according to the roadmap until they reach 62 years of age for the male employees by 2028 and 60 years for the female employees by 2035.

From 2021, the retirement age for ordinary employees is 60 years and 03 months for the male employees and 55 years and 04 months for the female employees.

After that, each year will be increased by 03 months for the male employees and 04 months for the female employees./.