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Increase base salary and pension from 1/7/2023

Increase base salary and pension from 1/7/2023

The National Assembly passed Resolution 69/2022/QH15 dated 11/11/2022 on the state budget estimate for 2023.

Approving the state budget estimate in 2023

1. Total state budget revenue is VND 1,620,744 billion (one million, six hundred and twenty thousand, seven hundred and forty four billion VND).

2. Total state budget expenditure is 2,076,244 billion dong (two million, zero hundred and seventy-six thousand, two hundred and forty-four billion dong).

3. The state budget deficit is 455,500 billion VND (four hundred and fifty five thousand, five hundred billion dong), equivalent to 4.42% of the gross domestic product (GDP), including:

The central budget deficit is VND 430,500 billion (four hundred and thirty thousand, five hundred billion dong), equivalent to 4.18% of GDP;

The local budget deficit is VND 25,000 billion (twenty-five trillion VND), equivalent to 0.24% of GDP.

4. The total loan amount of the state budget is 648,213 billion VND (six hundred and forty eight thousand, two hundred and thirteen billion dong).

Specifically, the National Assembly decided not to implement the overall reform of the salary policy according to Resolution 27-NQ/TW dated May 21, 2018;

From July 1, 2023, increase the base salary for cadres, civil servants and public employees to VND 1,800,000/month;

(Currently, the base salary is 1,490,000 VND/month).

At the same time, increase pensions and social insurance allowances by 12.5% for subjects guaranteed by the state budget and provide additional support for those who retire before 1995 with low benefits;

Increase the standard of allowance for people with meritorious services to ensure not lower than the standard of poor households in urban areas and increase 20.8% of spending on social security policies that are attached to the base salary;

From January 1, 2023, to increase the occupational incentive allowance for preventive medicine and grassroots health workers.
See more content in Resolution 69/2022/QH15 dated 11/11/2022.

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