There are three levels of the proposed additional support for officials, civil servants, and public employees who retire early or leave their positions according to regulations, corresponding to the remaining working years.
Accordingly, individuals who retire two years early will receive a wage subsidy paid for 12 months, a supplementary allowance of six months' salary in the initial 20 years of employment, provided that compulsory social insurance contributions have been made; and an extra half a month's salary for each year of employment with compulsory social insurance contributions for each year of service from the 21st year onwards.
Individuals who retire two to five years early will receive an additional subsidy of 12 months' current salary; six months' current salary for each year of early retirement; six months' salary in the initial 20 years of employment with compulsory social insurance contributions; and an extra of half a month's salary for each year of employment with compulsory social insurance contributions for each year of service from the 21st year onwards.
Individuals with remaining working years of over 5-10 will receive an additional subsidy of 12 months' current salary; five months' current salary for each year of early retirement; and six months' salary in the initial 20 years of employment, provided that compulsory social insurance contributions have been made; and an extra half a month's salary for each year of employment with compulsory social insurance contributions for each year of service from the 21st year onwards.
The Ho Chi Minh City People's Committee estimates that around 7,159 officials, civil servants, public employees, and workers will need additional support. The estimated cost of early retirement is more than VND1.56 billion (US$61,596) per person, with additional support costs reaching more than VND1.11 billion (US$43,215). The total cost for each case would be more than VND2.68 billion per person. The city’s total additional support cost is nearly VND17,000 billion (US$664 million).
