NEW PENSION LAW PROBABLE TO BE ADOPTED IN 2005
вЂњA new draft law, regulating the pension security, has been given to the Azerbaijani PresidentвЂ™s Executive Power,вЂќ the chairman of the State Fund for Social Security, Salim Muslimov. The adoption of the law at the parliament might be possible this year, he added.
According to Muslimov, a new law envisages the payment of working pensioners the pensions by 100%.
В"Insurance part of the pension will be accumulates upon they retire. Besides, the work period dated after the pension age will be also taken in to consideration. The initial variant of the draft law the basic period is 12 years, or.144 months,вЂќ Muslimov underscored.
He noted that insurance part will be calculated coming out from work period which dates after the pension age.