The current retirement age for female and male workers is 55 and 60, respectively.
On November 20, the National Assembly passed a revision to the Labor Code with 90.06% approval, VietnamNet reports. According to the new revision, beginning in 2021, the retirement age will start increasing each year by four months for women and three months for men.
In 2028, the retirement age for male workers will reach 62 and stop increasing, while for women, the number will stop at 62 in 2035.
For workers doing hazardous and dangerous jobs, the current retirement age is 50 for women and 55 for men. This will increase as well, gradually to 55 for women and 57 for men. High-skilled workers who are currently allowed to work past the normal retirement age by five years will see their retirement age extended by two years for men and five years for women in the future.
Under the new Labor Code, Vietnamese workers will get an additional day off to celebrate Independence Day (September 2). Workers are also allowed to unilaterally end a working contract as long as they announce the resignation before the time period that’s agreed to in the contract.
Another significant change in the new labor code is that the government will no longer regulate salary policies at individual companies. According to the Ministry of Labour, Invalids and Social Affairs, the government will also allow workers to establish independent unions as part of its promise to the International Labor Organization (ILO) and extend protection to employees without an employment contract under the new code.
