12:53 - 18.12.2019

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December 18, Fineko/abc.az. Expert economist Vugar Bayramov, the head of the Center for Economic & Social Development, informed that many questions have been asked lately about the form of indexation of the amount of pensions.

ABC.AZ reports that Bayramov noted that the indexation of pensions and pension capital is carried out in January of each year.

He added that according to the current legislation, pensions are indexed in compliance with the growth of the average monthly wage in the previous year, and pension capital - in accord with the level of inflation.

"This means that the amount of pension will be indexed next month, and in January pensioners will receive an increased amount. And the pension fees of citizens with pension capital, who have not yet reached retirement age, will be indexed and increased in terms of inflation. The amount of indexation of pension amounts is not specified currently, as this figure is determined after the end of the year. It is expected that the size of pensions will be indexed and increased in the 2nd half of next January after the State Statistics Committee announces the official growth of the average monthly wage," the expert said.

It should be noted that in January-September of this year the average monthly wage increased by 5.6%.