Azerbaijan, Baku / corr. Trend U.Ismayilova/ According to information provided by the Social Protection Fund of Azerbaijan on 7 January, in 2007 the Social Protection Fund of Azerbaijan registered 1,445,000 people on the individual account system of payers on obligatory state social insurance.
Individual account is the organization and conduct of the account for every insured person to ensure pension and other social protection rights.
During this period, accounts have been set up for 1,300,000 people, 1,290,000 certificate on social security have been issued, 1 280 000 certificates have been handed out.
AZN 1,650,000 has been allocated from the 2008 budget of Azerbaijani Social Protection Fund to finance individual account system on obligatory state social insurance.
Individual account system on obligatory state social insurance has been implemented in Azerbaijan since 2007. The Fund is aimed at completing the implementation of individual account by 2009.