Adjustment coefficients of monthly salaries, incomes for which paid social insurance premiums are based

30/01/2023 09:50 PM


The Ministry of Labour, Invalids and Social Affairs has released Circular No 01/2023/TT-BLĐTBXH, specifying coefficients for the adjustment of monthly salaries and incomes for which social insurance premiums have been paid. The provisions are applicable as of January 1, 2023.

The move is an annual practice that competent authorities carry out to ensure the value of paid social insurance premiums. Therefore, the people and labourers can rest assured that their interests and benefits from joining the social insurance system, both voluntary and compulsory, will be guaranteed.

Accordingly, as of January 1, 2023, monthly salaries and incomes for which paid social insurance premiums were based will be applied as follows:

Table 1: Applied for:

- Employees subject to the State-prescribed salary regime who started paying compulsory social insurance premiums from January 1, 2016 onward, receive lump-sum social insurance benefits or die whose relatives are entitled to a lump-sum survivorship allowance.

Illustrative image (internet)

- Employees who pay compulsory social insurance premiums accordingly to the employer-decided salary regime and have received pension allowance, lump-sum allowance upon retirement, lump-sum social benefits, or die whose relatives are entitled to a lump-sum survivorship allowance.

Year

Adjustment coefficient in 2023

Before 1995

5.26 (up 0.16)

1995

4.46 (up 0.13)

1996

4.22 (up 0.13)

1997

4.09 (up 0.13)

1998

3.8 (up 0.12)

1999

3.64 (up 0.11)

2000

3.7 (up 0.12)

2001

3.71 (up 0.12)

2002

3.57 (up 0.11)

2003

3.46 (up 0.11)

2004

3.21 (up 0.1)

2005

2.96 (up 0.09)

2006

2.76 (up 0.09)

2007

2.55 (up 0.08)

2008

2.07 (up 0.06)

2009

1.94 (up 0.06)

2010

1.77 (up 0.05)

2011

1.5 (up 0.05)

2012

1.37 (up 0.04)

2013

1.28 (up 0.05)

2014

1.23 (up 0.03)

2015

1.23 (up 0.04)

2016

1.19 (up 0.03)

2017

1.15 (up 0.03)

2018

1.11 (up 0.03)

2019

1.08 (up 0.03)

2020

1.05 (up 0.03)

2021

1 (unchanged)

2022

1 (unchanged)

Table 2: Applicable for employees who have paid voluntary social insurance premiums

Year

Adjustment coefficient in 2023

2008

2.07 (up 0.06)

2009

1.94 (up 0.06)

2010

1.77 ( up 0.05)

2011

1.5 (up 0.05)

2012

1.37 (up 0.04)

2013

1.28 (up 0.03)

2014

1.23 (up 0.03)

2015

1.23 (up 0.04)

2016

1.19 (up 0.03)

2017

1.15 (up 0.03)

2018

1.11 (up 0.03)

2019

1.08 (up 0.03)

2020

1.05 (up 0.03)

2021

1.03 (up 0.03)

2022

1 (unchanged)

2023

1  (unchanged)

VSS