Azerbaijan, Baku, Feb. 10 / Trend , Y.Ismayilova /
The insurance part of 547,000 pensioners will be indexed in Azerbaijan, the State Social Protection Fund reported.
"Roughly 3.2 million manat is monthly needed to index the insurance part of pensions and 38.5 million manat annually.
Under the decree of Azerbaijani President Ilham Aliyev, the indexation of the insurance part of pensions will be implemented in accordance with the inflation rate in the country in 2008.
In 2008, the index of consumer prices totalled 20.8 percent.
Pensions will be increased by six manat as a result of the indexation of the insurance part of pensions. Thus, the average monthly pensions will be 99 manat.
Under the President's decree the pension capital, which is accumulated on individual account of every citizen, will also be indexed.
On Feb. 10 the official exchange rate is 0.8077 manat to $1.
Do you have any feedback? Contact our journalist at: [email protected]