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Accordingly, the retirement ages of employees in normal working conditions under Clause 2, Article 169 of the Labor Code is specified as follows:

From January 1, 2021, the retirement ages of employees in normal working conditions shall be 60 years 03 months for males and 55 years 04 months for females, and shall increase by 03 months for males and 04 months for females after every year. Retirement ages of employees in normal working conditions shall be gradually increased to 62 for males by 2028 and 60 for females in 2035.

The roadmap for adjusting the retirement ages of employees. Source: Thuvienphapluat

The retirement ages of employees may be younger than those of whom in normal working conditions

The Decree also stipulates the retirement ages of employees may be younger than those of whom in normal working conditions under Clause 3, Article 169 of the Labor Code.

Specifically, employees in the following cases can retire at a younger age but not over 5 years old than the retirement age at the time of retirement, unless otherwise provided by law:

+ Employees having full 15 years doing heavy, hazardous or dangerous occupations or jobs or extremely heavy, hazardous or dangerous occupations or jobs on the list issued by the Ministry of Labour - Invalids and Social Affairs (1).

+ Employees having full 15 years or more working in regions with extremely difficult socio-economic conditions, including working time at places with region-based allowance coefficient of 0.7 or higher before January 1, 2021 (2).

The Minister of Labor, War Invalids and Social Affairs promulgates a list of regions with extremely difficult socio-economic conditions.

+ Employees suffering a working capacity decrease of 61% or more.

+ Employees having the total working time as defined in (1) and the working time in the area specified in (2) of full 15 years or more.

The lowest retirement age of an employee is applied as follows:

Source: Thuvienphapluat

Retiring at an age higher than the retirement age in the employees' normal working conditions under Clause 4, Article 169 of the Labor Code is specified as follows:

1- An employee can retire at an older age after he/she deals with the employer to continue working after the retirement age (*).

2- The termination of the labor contract and the settlement of the social insurance benefits for the employees specified in (*) above shall comply with the provisions of Section 3, Chapter III of the Labor Code and the provisions of the law on social insurance..

The Decree takes effect from January 1, 2021.