Ilham Aliyev orders increasing insurance part of labor pensions
Baku, Azerbaijan, Feb. 9
Azerbaijani President Ilham Aliyev has signed an order on indexation of the insurance part of labor pensions.
In accordance with the order, Azerbaijan’s Ministry of Labor and Social Protection of Population has been instructed to ensure increase in the insurance part of labor pensions of all kinds in line with the consumer price index in 2017.
The ministry has also been instructed to implement indexation of the pension capital accumulated in the insurance part of individual accounts in the personal accounting system.