SSPF reported on monthly pension on the background of 1.25 million needy pensioners (UPDATED)

In the first half of 2014 the average monthly pension in Azerbaijan amounted to 172.2 manat, the press service of the State Social Protection Fund (SSPF) reported. The total number of labor pensioners by 1 July reached 1,284,974. Most of them (61.1%) receiveg a pension by age, 28.1 per cent - a disability, and 10.8 percent - due to loss of the sole breadwinner. The basic part of most pensions at the level of the minimum wage is 105 manat. However, 30 000 civil servants are provided the highest pensions - from 300 to 3,000 manat, which means inappropriate calculation of the average pension in order to improve the numbers meaning social welfare.

In addition, according to the Fund, the financing of pensions in August completed ahead of schedule - at the end of last week. Transfer of funds to the accounts of local units was done by 22 August.

In Azerbaijan, by law, pension consists of a basic pension, an insurance part and an accumulative part. In fact there is no accumulative part. Furthermore, according to the practice, funding pensions and allowances is held without delay, however, the money comes late to pensioners and other recipients. -17D-

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