Azerbaijan to leave increments to labor pensions unchanged (...| MENAFN.COM

Sunday, 23 January 2022 05:07 GMT

Azerbaijan to leave increments to labor pensions unchanged (UPDATE)


(MENAFN- Trend News Agency ) Details added (first version posted on 11:30)

Baku, Azerbaijan, Feb. 10

By Anvar Mammadov - Trend:

Indexation of the insurance part of pensions in Azerbaijan won't affect increments to them, Salim Muslumov, the country's minister of labor and social protection of population, said at a press conference on Feb. 10.

He said that in accordance with the Azerbaijani legislation, the increments to labor pensions are not subject to indexation.

The category of people receiving increments to labor pensions includes civil servants, servicemen, former MPs, employees of justice and customs bodies and others. Their pension usually grows when the wages of workers of these spheres increase.

On Feb. 9, Azerbaijani President Ilham Aliyev signed an order on indexation of the insurance part of labor pensions.

In accordance with the order, Azerbaijan's Ministry of Labor and Social Protection of Population has been instructed to ensure increase in the insurance part of labor pensions of all kinds in line with the consumer price index in 2017.

The ministry has also been instructed to implement indexation of the pension capital accumulated in the insurance part of individual accounts in the personal accounting system.


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