Azerbaijan, Baku, May 4 / Trend , U.Ismaylova /
State Social Protection Fund of Azerbaijan submitted to Government a draft law providing a mechanism for calculating change of labor pensions, Head of the Fund Salim Muslimov said on May 4.
"I think soon the Cabinet of Ministers will present the project for approval by the President, and this will give an opportunity to ratify it in the Parliament this year," said Muslimov.
If the draft law is approved this year, the new mechanism will be introduced starting from the next year.
Transition to the new method is made to ensure fairness in the social provision of the population. Currently the pension in Azerbaijan is calculated according to wage of the pensioner for the last two years.
Muslimov said formerly that the Fund received complaints from future pensioners that they work for 30-40 years with low payment and as a result, receive a minimum level of pension, which is currently 75 manats in Azerbaijan.
The Head of the Fund also said that the current mechanism creates additional problems and negative situation for the pensioners. It is impossible to regulate the system for issuing certificates reflecting the level of wages of pensioners.
"Some pensioners receive fake certificate, reflecting the higher wages in the last two years, to receive higher pensions, and this leads to injustice," said Muslimov.
In Azerbaijan, men retire at the age of 62, women at 57. Today, there are 1.263 million pensioners in the country.
Official rate on May 4 is 0.8034 AZN/USD.
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