All pensions to increase from 2023 - Details

28.09.2022,11:53


September 28, Fineko/abc.az. All types of pensions will be increased from the next year.

ABC.AZ was informed at the Labor & Social Protection Ministry that the mechanisms for increasing the indexation of pensions of labor pensioners (civil servants, military personnel, persons with special ranks, etc.) receiving  superannuation will be put up for discussion at Milli Majlis. According to the draft amendments to the Law on Labor Pensions prepared by the MLSP, from 1 January 2023, the indexation mechanism will be applied and all types of pensions will be increased.

The final amounts of pensions after including 10% of the monthly pensions to persons receiving pensions on special conditions from this year, as well as 200 manats of material assistance paid to other pensioners during the year, will be indexed in accordance with the annual growth rate of the average monthly salary.

For example, the amount of the pension of a person who received pension of 400 manats and financial assistance of 200 manats during the year will be accepted in the amount of 416.7 manats (400+200/12), and indexing will be carried out relative to this amount.