BAKU, Azerbaijan, January 23. President of the Republic of Azerbaijan Ilham Aliyev has signed a law amending the law on labor pensions, Trend reports.
According to the amendment, the amount of the overpaid labor pension and supplements to the labor pension are deducted from the labor pensioner only for the last three years. Prior to this, the entire overpaid amount was deductible.
This law has come into force since January 1, 2023.
Salaries, pensions, benefits, increased by the orders signed in 2023, are continuation of the 4th package of social reforms from 2019, and this package is supposed to cover around two million Azerbaijanis during this year. It is planned to allocate extra 750 million manat ($441.1 million) to this end.
Following President Ilham Aliyev's decree dated January 5, 2023, the minimum pension will amount to 280 manat ($164.58), and benefits and pensions will also increase. In this regard, the Cabinet of Ministers was instructed to prepare and submit its proposals to the head of state within ten days.