Application of inheritance in pension fees is important - Economist`s explanations


October 23, Fineko/abc.az. After raising the minimum pension, there was also observed a rise in the required minimum pension capital.

ABC.AZ reports that the statement was made by Vugar Bayramov, the head of the Center for Economic & Social Development, when making brief description of the mechanism prepared by the Center in connection with the reforms in the social sphere.

According to Bayramov, after increase of the minimum pension, it is advisable for the government to compensate a certain part at its own expense: "From this angle, we propose to consider and change the figures relating to the minimum pension capital, so that more of our citizens could take advantage of the labor pension, given that the average age does not last long. In some cases citizens die before retiring and, of course, do not have time to take advantage of the fees. The application of inheritance in pension fees is also important. In some cases, citizens who have made fees die before reaching the retirement age. It is necessary to provide an opportunity to use the fees of those citizens by their heirs."

By Elmir Murad