17:15 - 21.11.2024

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November 21, Fineko/abc.az. As the minimum pension increases, so does the capital requirement for a work pension. Currently, the pension capital requirement is 40,320 manats. That is, in order to receive an old-age labor pension, a citizen must have either capital in this amount or experience of 25 years.

ABC.AZ reports that MP Vugar Bayramov said this at a joint meeting of the parliament's committees on labor and social policy, economic policy, industry and entrepreneurship.

"The increase in the minimum pension is a positive moment and is included in the main objectives of the social policy conducted under the leadership of the president. In this regard, there is a need to establish not only a quantitative, but also a qualitative relationship between the minimum pension amount and pension capital.

For example, taking into account single mothers, the number of children in the family and other factors, the need for capital may be reduced. This will allow some of our citizens who receive age benefits to receive a work pension. More and more citizens can receive an old-age pension," the MP said.