INDEXING FACTORS IN CALCULATING MONTHLY SALARY PAIDFOR SOCIAL INSURANCE IN 2018
On December 29, 2017, the Ministry of Labor, War Invalids and Social Affairs issued Circular No. 32/2017/TT-BLDTBXH on indexing factors in calculation of average monthly salary and earnings for which social insurance has been paid.
Specifically, with regards to employees eligible for the salary policy regulated by the State and paying social insurance from January 01, 2016 onwards and entitled to lump-sum social insurance or employees whose relatives are eligible for lump-sum survivorship allowance upon their death from January 01, 2018 to December 31, 2018; Employees paying social insurance according to the salary policy decided by their employers and entitled to pension, lump-sum pension, lump-sum social insurance or employees whose relatives are eligible for lump-sum survivorship allowance upon their death from January 01, 2018 to December 31, 2018, monthly salary for which social insurance has been paid shall be indexed as follows:
Indexed monthly salary as the basis for annual social insurance payment equal Total monthly salary as the basis for annual social insurance payment multiply Annual indexing factor.
For person who pays the voluntary social insurance and are entitled to pension, lump-sum pension, lump-sum social insurance or people whose relatives are eligible for lump-sum survivorship allowance upon their death from January 01, 2018 to December 31, 2018, monthly earnings for which social insurance has been paid shall be indexed as follows:
Indexed monthly earnings as the basis for annual social insurance payment equal Total monthly earnings as the basis for annual social insurance payment multiply Annual indexing factor.
Within that, annual indexing factors are specified in Table No. 1, Table No. 2 of Circular No. 32/2017/TT-BLDTBXH.
This Circular takes effect on February 15, 2018.
