The labor market is becoming more mature and younger

As of April 1 this year, individual accounts of social insurance in Azerbaijan has 2 million 427 thousand 089 people. This means that in January-March of individual accounts opened for 15 161 thousand workers.

According to State Social Protection Fund (SSPF), the average quarterly accounts are opened for 80 million people, double the owners of individual accounts is due to the cooperation with the Ministry of Taxes, revealing more and more new employers.

Most of the new payers of compulsory insurance are male. If at the end of last year, their share among the owners of individual accounts was 56.3%, now it is 57.9%, other 42.1% - women.

There was a change in the age groups. The composition of the working citizens younger, and most of them aged 30 to 40 years - 23.6%. Those who are under 30, are up to 22.9% from 40 to 50 years (before they were the majority) - 22.8%, over 60 years - 9.9%.

In Azerbaijan, the reform of the pension system was held January 1, 2006. As a result, the state fund applies an individual account Social Security. That is, each payer of social security contributions has an individual account, which accumulates an amount that will increase when leaving on a holiday insurance part of pensions. In Azerbaijan consists of the basic pension (93.5 manat) and the insurance part. - 17D-


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