Ministry proposes to raise social assistance standard level to 500,000 VND

Hanoi (VNA) - The Ministry of Labour, Invalids, and Social Affairs is finalising a draft decree to amend and supplement some provisions of the Government’s Decree No. 20/2021 on social assistance policies for social protection beneficiaries.

The draft decree outlines two options for raising the social assistance standard level.

Under Option 1, the monthly level would increase from 360,000 VND (14.67 USD) to 500,000 VND. This means the annual budget for implementation would be over 37.1 trillion VND, compared to the current 9.46 trillion VND. The decree is expected to take effect from July 1, 2024, with the state budget allocation for 2024 to increase by about 4.7 trillion VND as compared to 2023.

Option 2 proposes raising the monthly level to 750,000 VND, resulting in the total annual budget for implementation of approximately 54 trillion VND. In this option, the expected date for the decree to come into force is the same, with the 2024 budget 13.1 trillion VND more than that for 2023.

The ministry has proposed that the government consider Option 1, as it ensures the social assistance increase under a roadmap in correlation with other social policies, maintaining fairness among groups in particularly difficult circumstances so that no one is left behind. The option is also consistent with the budget allocation for social security and meets the minimum living standard for social protection beneficiaries.

According to the ministry, the total number of people currently receiving monthly social assistance exceeds 3.35 million./.