Minimum labor pension to grow up to 200 manats from October


June 19, Fineko/abc.az. The new legislative initiative of President Ilham Aliyev provides for an increase in the minimum pension this October by 25% from 160 up to 200 manats.

The draft law on a substantial increase in the minimum amount of the labour pension in accordance with the initiative has already been prepared and submitted to Milli Majlis.

According to the Ministry of Labor & Social Protection, the increase of the minimum pension will cover a total of 660,000 pensioners. To ensure growth, the State Budget will allocate AZN 216 million annually, and AZN 62 million this year (October-December).

This growth is the second step taken at the initiative of President Ilham Aliyev this year to increase the minimum size of the labor pension.