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In what form should a private pension fund operate? – Statement

23.10.2019,15:15


October 23, Fineko/abc.az. The question of increasing benefits for citizens with disabilities should be considered, says Vugar Bayramov, the head of the Center for Economic & Social Development, when making a brief description of the mechanism developed by his organization in connection with reforms in the social sphere.

"This year a decision to increase those benefits was made in the first package of decisions this year. The process should be sustainable and, in particular, it is necessary to increase the amount of social benefits for the disabled persons of Group 1 and bring it to the minimum wage, so that there are no difficulties with the social security of our compatriots," the expert said.

He noted that in this regard, increasing the amount of social benefits, along with minimum pensions and minimum wages, especially disability rates, should be a priority: "Steps should be taken in this direction in the coming months. There is a need to speed up the process of creating a private pension fund and provide citizens with the opportunity to save in private pension funds. At the same time, it is important to index the funds that will accumulate in these funds in foreign currency, so that in the future changes in the exchange rate would not affect directly the fees in the fund and would not lead to their impairment."

By Elmir Murad