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Party chief: Wages must be the main source of income

Thuy Dung
Monday,  May 14,2018,22:45 (GMT+7)
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Party chief: Wages must be the main source of income

Thuy Dung

The policy on regional minimum wages is expected to be improved to protect disadvantaged laborers - PHOTO: THANH HOA

HANOI – Wages must become the main source of income and be enough for earners and their families, Party General Secretary Nguyen Phu Trong stressed the view at the Party Central Committee’s seventh plenary session last week. 

At the concluding session on May 12, a resolution on wage and social insurance reforms was adopted.

In his closing remarks, Trong said the resolution sets out viewpoints, objectives, tasks and measures to promote the wage reform with many breakthrough ideas.

The resolution aims to build up a transparent national wage policy system that is suitable to the country’s conditions, facilitates economic development, and creates a driving force to increase labor productivity and the quality of human resources. It is also aimed to build a healthy, lean, effective working political system, prevent corruption and wastefulness, and work towards progression and social justice. 

According to Trong, such a decent wage system is an investment in human resource development, and contributes to improving labor productivity and performance of laborers. The wage reform must be associated with administrative reforms and attempts to increase the efficiency of the political system and agencies.

This time the reform carries many new points compared to previous reforms.

In particular, the structures of wages and bonuses in the public sector are designed with more reasonable proportions of base wages, allowances and bonuses.

A new payroll is built with net wages set according to positions and titles by adjusting up the lowest wage and getting wages comparable to the market level.

Allowances are restructured to ensure the allowance fund accounts for a maximum of 30% of the total wage fund.

Leaders of organizations and agencies can use the wage fund and regular expenses allocated annually to hire experts, scientists and talented personnel, and use the bonus fund to make regular bonus payments to staffers according to their performance.

The pilot mechanism of additional payments in certain localities is expanded.

As for the business sector, the policy on regional minimum wages will be improved to protect disadvantaged laborers. Besides, there will be minimum wages by the hour. 

Enterprises, including those wholly owned by the State, have autonomy to decide their wage policies and can pay according to labor productivity and operational efficiency. 

At State-owned enterprises, the State regulates wages via management tools and have different wages for the representative of State capital and the management board.

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