BAKU, Azerbaijan, Nov. 27
By Khagan Isayev – Trend:
The volume of funds allocated to finance pensions and benefits in Azerbaijan in 9M2021 increased by 3.6 percent compared to the same period last year and exceeded 3.56 billion manats ($2 billion), Trend reports citing the State Statistics Committee of Azerbaijan.
According to the Committee, of these funds, pension costs amounted to 97.4 percent.
"As of October 1, 2021, 1.2 million pensioners were registered with the State Social Protection Fund, which is 12 percent of the country's population. 59.1 percent of them receive an old-age pension, 29 percent - a disability pension, 11.9 percent - a bereavement pension," the report says.
It is noted that the average monthly pension increased by 10.8 percent compared to the same period last year, by 9.4 percent compared to the beginning of this year, and amounted to 330.6 manats ($194.53), which is equal to 45.7 percent of the average monthly salary.