Under a resolution passed by the 15^th  National Assembly (NA)’s  7^th session on June 29,  the monthly base salary for public employees, pensions, social insurance allowances, monthly allowances, and regional minimum wage for the business sector will be increased from July 1, 2024.

Accordingly, the monthly base salary  for cadres, civil servants, and public employees will increase from VND1.8 million ($70.7) to VND2.34 million ($92).

Meanwhile, a 15% increase will be applied to pensioners and social insurance beneficiaries across the board. However, for pensioners who retired before 1995, their monthly pensions will be increased additionally by VND300,000 ($11.78) if being lower than VND3.2 million ($125.74)  and be increased to VND3.5 million ($137.52) if being between VND3.2 million and VND3.5 million after the adjustment.

Preferential allowances for people with meritorious services will be increased by 35.7 per cent to VND2.789 million (over $109) per month from current VND2.055 million (over $80) per month.

The monthly social assistance to disadvantaged people would be lifted from VNĐ360,000 (over $14) to VNĐ500,000 (nearly $20).

Meanwhile, an average increase of 6% will be applied to the regional minimum wage for the business sector.

Accordingly, the monthly minimum wages will be adjusted across four regions. Region 1 will see wages increase to VND4.960 million ($194.8), region 2 to VND4.410 million ($173.2), region 3 to VND3.860 million ($151.6), and region 4 to VND3.450 million ($135.5).

Region 1 covers the urban areas of Hanoi and HCM City; Region 2 encompasses the rural areas of Hanoi and HCM City, along with major urban areas in the country such as Can Tho, Da Nang and Hai Phong; Region 3 covers provincial cities and the districts of Bac Ninh, Bac Giang, and Hai Duong provinces; and Region 4 comprises the rest of the country.

The above policies shall benefit at least 50 million people, according to Minister of Home Affairs Pham Thi Thanh Tra.