An interesting study by an expert in connection with retirement – 25-year insurance experience needed


January 28, Fineko/abc.az. Expert economist Rovshan Agayev has unveiled statistics on people who were lucky enough to get the right to a pension in Azerbaijan in old age.

ABC.AZ reports that Agayev noted that under present conditions the country has many requirements to receive a pension in old age:

"Among the requirements are: reaching retirement age, pension capital to be no less than the minimum amount of labor pensions insurance part of individual accounts or have 25-year insurance experience. The first condition is not in your hands - you can not determine how long you will live. But to fulfill the other two conditions, you must have a job with an official salary. In international practice usually 850-900 people out of 1,000 working-age population are entitled to a pension by hired labor, at best 80-100 - with the status of an entrepreneur (or employer)."