The meeting of the Milli Majlis (Parliament) discussed the bills including in the budget package for 2006 on Wednesday. The first discussed document was the bill on public budget of the State Fund for Social Security (SFSS) for 2006.
In his remarks, Hadi Rajabli, the chairman of the Milli Majlis Standing Commission on Social policy, noted that the bill envisaged increase of pensions and improvement of provisions of pension. Rajabli said that 82.4% of the payments would fall to basic pensions, 17.6% - insurance. Expenses related to banking services will comprise 6.8m manats.
In his turn, Salim Muslimov, the chairman of the SFSS, noted that the real money incomes grew by 45%, while growth of pensions and benefits made up 63.8% from 2002 to 2005. Touching upon other document on social insurance, Muslimov underlined that the Fund registered over 947,000 employees and would calculate the payments received from them under centralized system. He also underlined that there is no single system in determination and distribution of pensions. According to Muslimov, the revenues and expenses of the budget of SFSS for 2006 will comprise 567.6m manats. Average labor pension growth was forecasted at 26.3%.