Pensions calculated less than the required amount to be increased


May 5, Fineko/abc.az. Pensions calculated in previous years at low amounts have been recalculated and increased.

ABC.AZ was informed at the Ministry of Labor & Social Protection that as a result, it was found that the amount of pension of 12,809 people was calculated less than provided for by law.

The increases were calculated in accordance with the date of the pension rights or, in cases that meet the requirements of the legislation, for the previous three years.

To ensure the increase in pensions, additional funds were allocated in the amount of AZN 8 million a year. In addition, the difference of AZN 14.5 million payable for the previous period is paid in installments with accrual for monthly pensions. Thus, more than AZN 80 million will be additionally paid to these persons during the pension payment period.

Similar investigations are still ongoing.