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Pension capital to be indexed once a year on inflation level

27.06.2019,15:42


June 27, Fineko/abc.az. Milli Majlis adopted the amendments to the Law on Labor Pensions at the plenary session.

In accord with the amendments the pension capital of the insurance part of the personal account of the insured will be indexed once a year on the annual inflation rate in the country.

Currently, the pension capital, along with the insurance part of the labor pension is indexed once a year on the level of growth of the average monthly nominal salary.

Also, the amendments to the law provide for an increase of the minimum labor pension by 25% from 160 manats up to 200 manats from 1 October 2019.