Takes effect on February 11, 2017, the Circular No. 42/2016/TT-BLDTBXH dated December 28, 2016 of the Ministry of Labor, War Invalids and Social Affairs on indexing factor in calculation of average monthly income for which social insurance has been paid.
Accordingly, Indexed monthly wage as the basis for social insurance payment of a year equals total monthly wage as the basis for social insurance payment according to wage regime set by employers of the year multiplied by indexing factor of the year. Within that, the indexing factors of the years in 2012; 2013; 2014; 2015; 2016 and 2017 are 1.15, 1.08, 1.03, 1.03. 1.00 and 1.00 in turn.
Indexed monthly earnings as the basis for social insurance payment of a year equals total monthly earnings as the basis for social insurance payment of a year multiplied by indexing factor of the year. Within that, the indexing factors of the years of 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 and 2017 are 1.73, 1.62, 1.48, 1.25, 1.15, 1.08, 1.03, 1.03, 1.00 and 1.00.
All content prescribed at this Circular shall be applied from January 01, 2017.
Source: http://english.luatvietnam.vn/default.aspx?tabid=720
