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EARLY RETIREMENT BEFORE STATUTORY AGE FOR LABOR

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Early retirement before the statutory age is one of the key policies that allows Labors to retire earlier while still securing financial benefits and social insurance entitlements. According to Decree No. 178/2024/NĐ-CP, individuals eligible for early retirement will receive special allowances depending on their years of early retirement and the duration of compulsory social insurance contributions. This policy not only provides economic support but also contributes to stabilizing the lives of workers after leaving the labor market.

In this article, LawPlus will provide a detailed overview of early retirement entitlements, applicable conditions, and allowance levels under the latest regulations.

1. Eligible Subjects for Early Retirement Regime

Early Retirement for Employees

According to Decree No. 177/2024/NĐ-CP, the following individuals may retire before the statutory age upon request:

Ineligible Cases:

According to the 2008 Law on Cadres and Civil Servants:

2. Conditions for Early Retirement for Labor

Employees may retire earlier than the statutory retirement age if they meet compulsory social insurance contribution requirements and fall into one of the following categories:

Early Retirement of Up to 5 Years

Employees may retire up to 5 years earlier than the statutory retirement age if they have contributed to compulsory social insurance for at least 20 years and meet one of the following:

Early Retirement of Up to 10 Years

Employees may retire up to 10 years earlier if they meet the following:

Retirement with No Age Limit

Employees may retire regardless of age if they meet both conditions:

3. Benefits under the Early Retirement Policy

Pursuant to Article 7 of Decree No. 178/2024/NĐ-CP, early retirees are entitled to the following benefits:

Lump-Sum Retirement Allowance

Persons defined in Clause 1, Article 2 of this Decree who retire early will receive a lump-sum allowance based on the time of early retirement:

Pension Scheme Based on Years of Early Retirement

Labors contributing to compulsory social insurance will receive retirement benefits based on the number of early retirement years:

Commendation Policy Upon Early Retirement

Officials, public employees, and civil servants retiring early per Clause 1 and 2, Article 7 of the Decree are eligible for commendation under the 2022 Law on Emulation and Commendation:

Early retirement policies offer substantial benefits for long-serving Labors and those working in difficult or hazardous environments.

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