Longer working lives are forecasted as proposals are in place to raise the retirement age in a bid to tackle the problem of a rapidly aging population Photo: Le Toan This September, Vu Quang Tho, head of the Institute for Workers and Trade Unions under the Vietnam General Confederation of Labour, will officially retire. The 60-year-old has devoted decades of his life to studying labour policies. Tho may not be able to benefit from an upcoming increase in the working time for state officers and employees, which was just agreed on by the Party Central Committee. The Ministry of Labour, Invalids, and Social Affairs (MoLISA) will soon revise the existing Labour Code, with the new retirement age cap scheduled to take effect from 2021. “The Institute and the Confederation believe the change will enable state employees to work more. Under our survey, many said they want to see their working time lengthen,” Tho told VIR. “It will also help Vietnam respond to the aging of its population and ease burdens on social insurance funds.” Raising retirement ages On May 12, the seventh plenary session of the 12th Central Committee of the Communist Party of Vietnam released three major resolutions, including… Read full this story
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