How long must one contribute trực tiếp bóng đá hôm nay insurance trực tiếp bóng đá hôm nay receive a pension in Vietnam? Is Personal Income Tax applicable trực tiếp bóng đá hôm nay the pension in Vietnam?
How long must one contribute trực tiếp bóng đá hôm nay insurance trực tiếp bóng đá hôm nay receive a pension in Vietnam?
The contribution period trực tiếp bóng đá hôm nay Social Insurance (SI) for pension entitlement differs between participants of compulsory SI and voluntary SI. Therefore, understanding the regulations regarding SI participants will help workers grasp their rights and responsibilities, ensuring compliance with SI contributions.
According trực tiếp bóng đá hôm nay Article 2 of theLaw on Social Insurance 2014, the participants of SI include:
(1) For Participants in Compulsory Social Insurance:
According trực tiếp bóng đá hôm nay the provisions ofArticle 54 of the Law on Social Insurance 2014(amended by point a clause 1 Article 219 of theLabor Code 2019), it is stipulated that in order trực tiếp bóng đá hôm nay receive a pension, the worker must meet the retirement age requirement and have contributed trực tiếp bóng đá hôm nay social insurance for a certain number of years.
- The retirement age (calculated until 2025) according trực tiếp bóng đá hôm nayNghị định 115/2015/NĐ-CPand the retirement age increase schedule in Article 169 of theLabor Code 2019is as follows:
+ Male: 62 years old (by 2025, retirement age for males increases gradually from 60 years old in 2019, increasing by 3 months each year, reaching 62 years by 2028; by 2025, about 61 years and 9 months).
+ Female: 60 years old (increasing gradually from 55 years old in 2019, increasing by 4 months each year, reaching 60 years by 2035; by 2025, about 58 years and 4 months).
Note: Some special cases (heavy labor, hazardous work, or reduced labor capacity) can retire earlier (up trực tiếp bóng đá hôm nay 5 years less).
- The number of years contributing trực tiếp bóng đá hôm nay social insurance trực tiếp bóng đá hôm nay receive a pension is as follows:
+ The minimum number of contributory years trực tiếp bóng đá hôm nay social insurance is at least 20 years for both males and females.
+ For female workers who are commune-level officials or non-specialized personnel at the commune, ward, or town level, if they have contributed trực tiếp bóng đá hôm nay social insurance for 15 trực tiếp bóng đá hôm nay less than 20 years and meet the retirement age requirement as mentioned, they are entitled trực tiếp bóng đá hôm nay a pension.
(2) For Participants in Voluntary Social Insurance:
According trực tiếp bóng đá hôm nay the provisions of Article 73Law on Social Insurance 2014(amended by point c clause 1 Article 219Labor Code 2019), a worker participating in voluntary social insurance is eligible for a pension when they fulfill the following conditions:
- Meet the retirement age stipulated in clause 2 Article 169 of theLabor Code 2019as follows:
+ Male: 62 years old (by 2025, retirement age for males increases gradually from 60 years old in 2019, each year increasing by 3 months, reaching 62 years by 2028; by 2025, about 61 years and 9 months).
+ Female: 60 years old (increasing gradually from 55 years old in 2019, each year increasing by 4 months, reaching 60 years by 2035; by 2025, about 58 years and 4 months).
Note: Some special cases (heavy labor, hazardous work, or reduced labor capacity) can retire earlier (up trực tiếp bóng đá hôm nay 5 years less).
- At least 20 years contributing trực tiếp bóng đá hôm nay social insurance.
(3) Illustrative Examples:
- Case 1:Mr. A was born in 1963, by 2025 he will be 62 years old (retirement age fulfilled). He started contributing trực tiếp bóng đá hôm nay SI in 2005, and by 2025 he would have contributed for 20 years (2005-2025). He is eligible trực tiếp bóng đá hôm nay receive a pension immediately from 2025.
- Case 2:Ms. B was born in 1967, by 2025 she will be 58 years and 4 months old (retirement age for females fulfilled). She began contributing trực tiếp bóng đá hôm nay SI in 2010, reaching only 15 years by 2025. She may:
+ Voluntarily contribute an additional 5 years (60 months) trực tiếp bóng đá hôm nay fulfill 20 years and thereafter receive a pension.
+ Or choose a one-time withdrawal from SI if she does not wish trực tiếp bóng đá hôm nay continue her contributions.
How long must one contribute trực tiếp bóng đá hôm nay insurance trực tiếp bóng đá hôm nay receive a pension in Vietnam?(Image from the Internet)
Is Personal Income Tax applicable trực tiếp bóng đá hôm nay the pension in Vietnam?
Based on clause 10 Article 4 of theLaw on Personal Income Tax 2007(supplemented by clause 3 Article 2 of theLaw on Amendments trực tiếp bóng đá hôm nay Tax Laws 2014; amended by clause 2 Article 1 of theLuật thuế thu lịch trực tiếp bóng đá hôm nay cá nhân sửa đổi 2012 Số hiệu 26/2012/QH13), the incomes exempt from personal income tax are defined as follows:
Incomes exempt from tax
...
- The part of night work wages, overtime wages paid higher than wages for working during the day, working regular hours as prescribed by law.
10. Pensions paid by the Social Insurance Fund; pensions paid by the voluntary pension fund monthly.
- Income from scholarships, including:
a) Scholarships received from the state budget;
b) Scholarships received from organizations within and outside the country under that organization's scholarship support program.
...
Thus, according trực tiếp bóng đá hôm nay the above provisions, pensions fall under the category of tax-exempt income, and individuals are not required trực tiếp bóng đá hôm nay pay personal income tax on the pensions they receive.
Which incomes from wages and salaries of retirees are subject trực tiếp bóng đá hôm nay personal income tax in Vietnam?
According trực tiếp bóng đá hôm nay the regulation in clause 2 Article 3 of theLaw on Personal Income Tax 2007, amended by clause 1 Article 1 of theLuật thuế thu trực tiếp bóng đá euro hôm nay cá nhân sửa đổi 2012 Số hiệu 26/2012/QH13, concerning income from wages and salaries of retirees subject trực tiếp bóng đá hôm nay personal income tax:
(1) Salaries, wages, and other payments of a salary or wage nature;
(2) Allowances and benefits, except the following:
- Allowances, benefits as prescribed by law regarding preferential treatment for people with meritorious services;
- National defense and security allowances;
- Hazardous or dangerous allowances for sectors, trades, or work conducted in hazardous or dangerous environments;
- Attraction allowances, regional allowances as prescribed by law;
- Sudden difficulty allowances, occupational accident or disease benefits, one-time allowance for childbirth or adoption, compensation for reduced labor capacity, one-time retirement allowance, monthly survivor benefits, and other allowances as specified by social insurance legislation;
- Severance allowances, job loss benefits according trực tiếp bóng đá hôm nay the Labor Code;
- Social protection benefits and other benefits and allowances that are non-salary or non-wage nature according trực tiếp bóng đá hôm nay the Government of Vietnam regulations.
