What benefits will veterans receive in 2022? Is there a pension?

In July 2020, the Ministry of Veterans Affairs and the Ministry of Finance issued a notice to once again increase the pension and living allowance standards for some veterans and other preferential treatment recipients. So, what benefits will veterans receive in 2022? Is there a pension?

1. What benefits will veterans receive in 2022?

1. Retirement benefits

1. Placement of retired military officers

For retired officers, the state will properly place them through retirement, transfer, monthly retirement pay, and demobilization.

2. Resettlement of retired military personnel

For retired soldiers, the state will properly arrange for them to receive monthly retirement benefits, find employment on their own, be assigned a job, retire, or be supported. Those who have served the required number of years and are resettled by receiving monthly retirement pay shall receive monthly retirement pay in accordance with relevant national regulations. Those who have served less than the required number of years and are placed in self-employment will receive a one-time retirement payment.

3. Placement of retired conscripts

The state will properly place retired conscripts through methods such as self-employment, job arrangements, and support. Those who are placed in self-employment will receive a one-time retirement allowance. For those who are resettled by being assigned a job, the local people’s government will arrange a job for them based on their contributions and expertise during their active service. Those who are placed in the support system will be supported by the state for life.

4. Other placements

Priority will be given to veterans who have participated in wars; retired military officers who served as chief officers of combat units at the division, brigade, regiment, and battalion levels; veterans who are children of martyrs or meritorious service models; and veterans who have served in difficult and remote areas or special positions for a long time.

(II) Benefits of Employment and Entrepreneurship

1. Disabled veterans who have been assessed a disability level due to war, work-related injuries, or illness during their active service, and who have been reassessed or re-assessed their disability level after retirement, and who have the ability to work and the willingness to work, shall have priority in enjoying the preferential employment policies for the disabled as stipulated by the state.

2. When recruiting or hiring personnel, government agencies, mass organizations, public institutions and state-owned enterprises may appropriately relax the age and educational requirements for retired military personnel, and give priority to recruiting and hiring retired military personnel under the same conditions. The active service experience of retired sergeants and conscripts is regarded as grassroots work experience.

2. Will veterans have pensions in 2022?

Veterans receive pensions.

1. Basic pension

It will be paid according to the unified standard for demobilized veterans in the year they receive pensions.

2. Personal Account Pension

The military service of demobilized veterans can be recorded according to certain standards. Specifically: the account amount is calculated by taking the average amount of the payment level of the demobilized veteran in the year when he received pension benefits plus the government payment subsidy as the base, and multiplying it by his military service (if it is less than 1 year, it will be counted as 1 year), and this amount is included in the personal account balance. The calculation method for personal account pension is the same as that for other insured persons.

3. Pension by Years of Payment

The payment period of demobilized veterans is the sum of their military service and their actual personal payment period. The method of calculating pension based on their contribution years is the same as that for other insured persons.

4. Preferential pension

Pensions are economic security for veterans’ later years and are supported by national policies.

In general, the country provides a lot of welfare benefits to veterans, and they are being improved and increased year by year.