Number of Social Insurance Payers Increased

As of April 1 this year 3 million 41.81 thousand people in Azerbaijan had individual accounts of social security (+ 2.2% to 1 January).

As stated in the press release of the State Social Protection Fund (SSPF), in the first quarter individual accounts were opened for 22,710 citizens. Of these, 59.1% were men and 40.9% were women.

According to official data, most of the persons with individual accounts are working people aged 30-40 years (24.71% of all social insurance payers). Individual accounts are also open for 21.74% of the social insurance payers under the age of 30 years, 20.84% ??- for people at the age of 40-50, 21.2% - for those at the age of 50-60, and 11.51% - for those over the age of 60.

Recall Azerbaijan has conducted a reform of the pension system since January 1, 2006, as a result of which it launched individual registration of social insurance. For each payer of compulsory social insurance individual accounts are opened and their contributions for compulsory social insurance are accumulated there. --17D-