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The decree prescribes adjustments to pensions for female employees who retire from 2018 to 2021 and have paid social insurance premiums for 20 years to 29 years and six months. The adjustments are made for retired female workers who receive less benefits than men from new calculation of the pensions stipulated in the 2014 Law on Social Insurance compared to that in 2006.

Accordingly, a female worker who is entitled to retirement benefits between January 1, 2018 and December 31, 2021 and has paid social insurance premiums for 20 years to 29 years and six months shall receive a monthly pension calculated as prescribed in Clause 2, Article 56 or Clause 2, Article 74 of the 2014 Law on Social Insurance which shall be added with a certain extra amount specified in this decree, depending on the length of her payment and the date when her retirement benefits begin to take effect.

The extra amount of pension is equal to the level prescribed in Clause 2, Article 56 or Clause 2, Article 74 of the 2014 Law on Social Insurance at the time she starts to enjoy the pension, multiplying with a specific corresponding ratio based on the length of her payment and the date when her retirement benefits begin to take effect. The corresponding ratios are follows:

The new level of pension will be a basis for the next adjustments as prescribed in Article 75 of the 2014 Law on Social Insurance.

Female employees who start to receive pensions from January 1 to June 30, 2018 and have paid social insurance premium for 20 years to 29 years and six months shall have a monthly pension calculated as prescribed in this decree at first and later adjusted as stipulated in Decree No. 88/2018/ND-CP dated June 15, 2018 by the Government on adjustments of pensions and monthly social insurance allowances.

Decree No. 153/2018/ND-CP will be effective from December 24, 2018./.