Retirement age to rise as from 2021
The retirement age for male and female workers will increase from 60 and 55 at present to 62 and 60 respectively in 2035 under the revised Labour Code that was passed by National Assembly deputies on November 20.
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| National Assembly deputies agree to rise retirement age in 2035. |
The retirement age will then increase by three months for male and four months for female workers each year until it reaches the target.
According to the amended Labour Code, those working in heavy, hazardous and dangerous jobs, or in extremely disadvantaged areas, or having decreased working capacity will be allow to retire early than the prescribed age by a maximum of five years.
Meanwhile, highly-skilled workers and other special cases will be allowed to continue working five years at the maximum past the retirement age.
The document also stipulates public holidays, comprising one day for New Year, five days for Lunar New Year, one day for April 30 Victory Day, one day for May Day, two days for National Day (September 2) and one day for the commemoration of the Hung Kings – the nation’s legendary founders, which falls on the 10th day of the third lunar month.
Normal working times will not exceed eight hours a day and 48 hours a week. Meanwhile, overtime will not surpass 300 hours per year for specific industries, jobs and cases.
The State is encouraging employers to set a working week of 40 hours, according to the document.
With 17 chapters and 220 articles, the Labour Code sets employment standards, obligations and responsibilities of employers and employees as well as their representative organisations, and State regulations.
