Vietnam to raise retirement age, add one more public holiday

	Retirement age may go up due to trade deals: MOLISA
	Vietnam ministry suggests increasing retirement age
	Labor productivity and wage growth in Vietnam: Report

Elderly people doing exercise in Hanoi

The National Assembly on November 20 passed the Labor Code (amended), which consists of 17 chapters and 220 articles, defining labor standards, rights, obligations and responsibilities of employees, employers, employees’ representative organizations and employers’ representative organizations in industrial relations and other relations directly related to industrial relations and state management of labor.

The current retirement age is 60 for men and 55 for women.

From 2021 and on, the retirement age will be increased by three months for a male employee at normal working conditions, and four months for a female employee annually.

An employee whose working capacity is reduced or subject to extremely heavy, dangerous, or hazardous working conditions, or working at disadvantaged areas may retire sooner but not five years less than the regulations, unless otherwise provided by laws.

Skilled laborers or some special cases may retire at older age but not more than five years than the regulations defined at clause 2, unless otherwise provided by laws.

One more day off

According to the amended Labor Code, employees shall be entitled to fully paid days off for such holidays and festivals as Calendar New Year Holiday: 1 day (January 1 of the calendar year), Lunar New Year Holidays: 5 days, the Independence Day: 1 day (April 30 of the calendar year), Labor Day: 1 day (May 1 of the calendar year), Commemorative Celebration of Viet Nam’s Forefather – Kings Hung: 1 day (the tenth of March of the lunar year) and the National Day: 2 days (September 2 of each calendar year and one day before or after September 2).

This makes for a total of 10 days a year, excluding Tet weekends.