Azerbaijan Allocates AZN 5 Bln To Pension Payments

(MENAFN- AzerNews) In 2023, 5 billion 726 million AZN were allocated to pension payments, which is 16 percent or 781 million AZN more than the previous year, Azernews reports.

According to the information provided by the Public Relations Department of the Ministry of Labor and Social Protection of the Population, the minimum pension was increased to 280 AZN last year as the next pension increase. Financial assistance paid to pensioners in 2022 will be included in their pensions, and pension amounts will be indexed by 14.7 percent.

During that period, the average monthly amount of pensions increased by 17 percent to 436 AZN, and the average monthly amount of age pensions also increased by 17 percent to 467 AZN.

In the last year, 31.8 thousand citizens have been proactively assigned pensions, and since the beginning of 2019, when the electronic appointment mechanism was introduced, 102 thousand citizens have been assigned pensions.

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