Vo Tri Thanh The 14th National Assembly’s 7th meeting session ended last month with the last day reserved for discussing the draft amended Labour Code, which included a proposal to increase the retirement age that received a lot of public attention. In draft amendments, the Ministry of Labour, Invalids and Social Affairs (MoLISA) proposed raising the retirement age to 62 for men and 60 for women with two scenarios. In the first scenario, starting from January 1, 2021, the retirement age will be 60 and three months for men, and 55 and four months for women. An incremental three-month and four-month rise will be added to the retirement age for men and women, respectively, each successive year. In the second scenario, starting from January 1, 2021, the retirement age will be 60 and four months for men, and 55 and six months for women. A four-month and six-month increment will be added to the retirement age each successive year. The reasons for the increase, according to … [Read more...] about Retirement age increase inevitable, but more should be done
Zidane retired age
Doãn Mậu Diệp. — Photo tienphong.vn Doãn Mậu Diệp, Deputy Minister of Labour, Invalids and Social Affairs, speaks to the Tiền Phong (Vanguard) newspaper about how Việt Nam will revise the retirement age for workers or State employees How do you respond to a proposal that Việt Nam would raise the retirement age for its workers while many people in the working age still can’t find jobs? It is a real fact that in any labour market, job positions are always bigger than the actual number of working people. Yet, in all countries, many people are still unemployed. Japan is a good example. According to a national survey, there is only one candidate for four working positions while the unemployment rate in Japan currently stands at 2.4 per cent. In the real labour market, the mismatch between supply and demand happens in all countries, and Việt Nam is no exception. For example, in the Republic of Korea, the … [Read more...] about Why we have to increase the retirement age?
Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung spoke to Dantri/DTiNews on May 29 about the new proposed retirement ages which will be increased from 60 to 62 for men and from 55 to 60 for women. Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung Many people, especially employees don’t agree with increased retirement ages. Has the ministry gathered opinions from the workforce before submitting the documents? We did gather opinions from them. Resolution 28 on social security policy reform clearly states that employment rate, ageing population and the stability of the social insurance fund must be calculated. The retirement ages must be adjusted in order to deal with an ageing population by 2035. Vietnam is still in a golden population era but the population already started ageing since 2014. In 2000, Vietnam had 1.2 million people of working age. The number dropped to 400,000 and the number of people over 60 years old accounts for 7% of the … [Read more...] about Minister defends increased retirement ages
Vice chairman of National Assembly’s Committee for Social Affairs Bùi Sỹ Lợi. — Photo news.zing.vn Bùi Sỹ Lợi, vice chairman of National Assembly’s Committee for Social Affairs talks to Hải Quan (Customs) newspaper about a proposal to increase retirement age in the draft amended Labour Law. The draft revised Labour Code has proposed increasing retirement age to 62 for men and 60 for women from 2021. What are the foundations of this proposal? According to the 2012 Labour Code and Law on Social Insurance, the retirement age for men is 55 and for women is 50. The age is reduced by five to 10 years for jobs prone to high risks and toxic elements. In fact, the average retirement age for both men and women is only 54 because the retirement age set in the law is not always followed. The number of people in the workforce is on the decline. In the context of an aging population, we will be in shortage of workers for the national … [Read more...] about Retirement age adjustment needs to be flexible
As forecast, there will be an elderly person among every two Vietnamese people of working age by 2055. In 2000, the number of people entering the working age was 1.7 million, 3.4 times higher than the number of 500,000 people out of the work force. By 2035, the number of people in the working age will only be 1.2 times the number of those who leave the working age (1.5 million compared to 1.26 million people). Deputy Minister of Labour, Invalids and Social Affairs Doan Mau Diep said that increasing the retirement age is unavoidable as Vietnam is facing the aging population issue. Without adjusting the retirement age, the country will face labour shortages in the near future. Therefore, the adjustment of the retirement age will be included in the draft Labour Code (revised) and submitted to the National Assembly (NA) for further discussion, with two proposed plans. In Option 1, the adjustment is set from 2021, with the retirement age increased by three months each year for men until … [Read more...] about Vietnam to increase retirement age to solve future labour shortages