BAKU, Azerbaijan, April 17. Increase of pensions, which is an important component of the social security system in Azerbaijan, continued in the first quarter of 2022, the Ministry of Labor and Social Protection of the Population told Trend.
According to the ministry, in the reporting period, the average monthly pension grew by another 9.4 percent and as of April 1 amounted to 363 manat ($213.5), of which the average monthly old-age pension increased by 9.1 percent - up to 394 manat ($231.7).
The ministry said that consistent implementation of the social reform packages has allowed to substantially increase pensions in Azerbaijan in general.
Over the past three years, the minimum pension in Azerbaijan has increased by 2.2 times. Also, since 2018, the average monthly pension has increased by 75 percent, of which the average monthly retirement pension grew by 70 percent, added the ministry.