Revenue of SSPF Grows by 20%

In the first quarter of this year, the revenues of the State Social Protection Fund amounted to 905.3 million manat, which is 20% more than for the comparable period of 2016.

The share of social insurance contributions is 464.2 million manat, which is 12% more than in January-March last year, the press service of the Ministry of Labor and Social Protection of Population reports.

The non-state sector provided revenues to the Fund totaling AZN 295.3 million, which is AZN 30 million higher than the indicator for the first quarter of 2016.

The remaining funds are transfers from the state budget.

The number of pensioners this year increased by 3,771 people and is 1 million 319 thousand as of April 1.

According to the ministry, the average size of labor pension in Azerbaijan at the beginning of April is 202 manat 38 gapicks, which corresponds to the requirement of the European Social Charter: the ratio of the average size of labor pension to the average wage is 44.9%.

In individual accounting of payers of social insurance there are 3,443,760 people, which is 2.13% more than at the beginning of this year.    ----08D