Find out your future pension yourself
From today, 11 thousand 730 citizens of Azerbaijan will be able to automatically calculate their appointed pension on the basis of accumulated personal pension capital. In the near future, this type of service will be available to anyone with an e-signature.
Yesterday the State Social Protection Fund (SSPF) presented the electronic system of information insured employees posted on the website "Electronic Government" The system is convenient because the user only has to enter personal data, after which all charges, with effect from 1 January 2006, will come out automatically. Access to it is possible after writing online application and receive a unique code, password and encryption user.
In the future, the system will also reflect the savings that are made before the pension reform. Thus, its potential users can have all retired and working citizens.
According to the State Fund, today in a centralized information system, bulk payments to 36 local fund data are available for 223 thousand 712 policyholders (employers, entrepreneurs and landowners).
The "e-Services" website of SSPF today operates 20 services. The following year, their number will be increased to 25, writes the press service of the Fund.
According to the management of the Fund, with the increasing number of employers and employees will continue to grow revenues of the Fund. If the forecast non-deficit budget for next year is scheduled at 2.63 billion, the expectations for 2014 are 3.02, for 2015 - 3.3, and for 2016 - 3.6 billion manat. In the medium term the principle of parity between income and expenditure budget of SSPF will be continued. -17D-
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- Question-answer
- 27 November 2012 14:56
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- Economics
- 27 November 2012 15:02
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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