Report of SSPF

The State Social Protection Fund (SSPF) reported the results of last year. According to this, there was a budget surplus - the advantage of income over expenditure is expressed in 25.5 million manat.

Total revenues for the state fund last year amounted to 2 billion 894,300,000 manat (223 million manat or 8.3% as of 1 January 2014). Traditionally, the largest share was contributions to compulsory social insurance - 1 billion 744,900,000 manat, 64.6% or 1 billion 126,400,000 manat of which is formed at the expense of the private sector. Proceeds from budget organizations amounted to 618.5 million manat and other expenses were 7.4 million manat. Transfers from the state budget were 1 billion 142 million manat.

The expenses were 2 billion 868,800,000 manat. To finance various types of pensions including labor pensions 2 738 500 000 manat was directed, and other benefits were 70.6 million manat.

The income and expenses of the SSPF in 2014 were approved at the level of 2 billion 928 million 452 thousand manat. --17D-

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