17:19 - 5.02.2025

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February 5, Fineko/abc.az. President of Azerbaijan Ilham Aliyev has signed an order on the indexation of labor pensions.

ABC.AZ reports that according to the document, the Ministry of Labor & Social Protection of the Population has been tasked to index the insurance part of labor pensions awarded before January 1, 2025.

The indexation will be carried out in accordance with the annual growth rate of the average monthly nominal salary for 2024, determined by the State Statistics Committee of Azerbaijan. For pensioners who have been assigned superannuation allowances, the indexation will be carried out taking into account these allowances.

In addition, in accordance with the annual level of the consumer price index, the amounts of financial assistance included in labor pensions from January 1, 2023, as well as the amounts of pension capital included in the insurance part of the individual personal account of insured persons until January 1, 2025, will be indexed.

The Cabinet Ministers is tasked to resolve the issues arising from this order.

The decree comes into force on January 1, 2025.