Sahil Babayev: Increase of pensions to demand allocation of over AZN 1 bn

11:57 - 7.02.2020


February 7, Fineko/abc.az. The measures on the improvement of the social status of pensioners in Azerbaijan taken in 2019-2020 will require the allocation of more than AZN 1 bn.

ABC.AZ reports that the statement was made by Minister of Labor & Social Protection Sahil Babayev at a press conference on 6 February.

Commenting on the presidential decree on pension increase, the minister noted that the average monthly pension will increase from 262 manats up to 300 manats.

Babayev pointed out that this is also a message to citizens working in the field of informal employment, so that they also formalize their work activities.

"They should have pension funds, so that every year the state takes advantage of the opportunity to index and increase these pension funds. Thus, they will be entitled to pension provision in the future," the minister added.

It should be noted that on 6 February President Ilham Aliyev signed a presidential decree on an increase in pensions.

 

 

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