Next year, pensions may be increased twice - the presidential decree on indexation of minimum pensions (all seniors) in connection with consumer inflation and the increase in the insurance part of labor pensions. In the second case indexing will also be tied to the consumer price inflation in 2012.
Today marks 20 years of the State Social Protection Fund (SSPF). According to the SSPF chairman Salim Muslimov, in honor of the anniversary, today the average level of pensions in the country totaled AZN 151.3 (2003: AZN 20). Retirement pension is 167 manat.
According to him, the fund passed 4 stages of formation - from 1992 to 1995, from 1996 to 2002, from 2003 to 2005 and from 2006 to the present day. In 2003, the ratio of pensions to wages (coefficient of netting) was 23%, this figure is 40%.
Azerbaijan has over 1.2 million seniors, said Muslimov. - 17D-
Economics
-
Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
-
The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
Leave a review