100 percent of pension payments automated in Baku

Azerbaijan, Baku, June 9 / Trend , U.Ismayilova/

Some 1.89 million or 96.3 percent of pensioners receive the benefits via the automated pensions system in Azerbaijan, the State Social Protection Fund of Azerbaijan (SSPFA) said on June 9.

"In January-May, number of population receiving pensions through plastic cards increased by 31,980," the fund said.

The fund said all retirees in Baku receive benefits through the card, and 92.5 percent of pension payment system in the country's regions has been automated. As of Jan. 1, 2009 the figure was 88.9 percent.                                                                                                                                         

To fully automate the system of providing retirement benefits, 417 ATMs have been installed in the country, including 51 additional ATMs installed in the villages and towns of the country. Automation of pensions in the country was carried out by the processing center AzeriCard, wholly-owned by the International Bank of Azerbaijan. IBA and Kapital Bank were selected agent banks of the state fund.

An average level of pensions in the country is 96 manat, which equals 36 percent of the average salary in the country. A minimum level of labor pensions in the country is 75 manats.

There are three types of pensions - by age, disability, loss of head of family in Azerbaijan. Women come into retirement age of 57 years, and men - 62 years.

On Dec. 30, in 2008, the president decreed to adopt the state program for 2009-2015 to develop the insurance pension system.

On June 9, the official exchange rate is 0.8039 manat to $1.

Do you have any feedback? Contact our journalist at: [email protected]

Georgia, Tajikistan contribute to intensification of cargo transit
Georgia, Tajikistan contribute to intensification of cargo transit
Regional Gender Expert Group to be set up for CAREC Gender Strategy implementation
Regional Gender Expert Group to be set up for CAREC Gender Strategy implementation
OIC member countries boost imports of Turkish-made products
OIC member countries boost imports of Turkish-made products
Loading Bars
Latest
Russia's Yandex to launch e-grocery delivery in Paris then London
Kansas City revenue falls 3.5% as COVID-19 hits volumes
India To Spend $200 Million In Next 5-7 Years To Promote Hydrogen Use
Georgian Railway plans to issue Eurobonds in June 2021
Turkmenistan sees increase in number of registered business entities
Russian Hevel Energy Group commissions solar plant in Kazakhstan
UK PM Boris Johnson To Finalise "Roadmap 2030" With India: High Commission
India, France sign agreement for cooperation on Gaganyaan mission
Amazon announces $250 million fund for small, medium businesses in India
Sputnik V covid vaccine deliveries to India to begin this month
Anglo Asian Mining lowers gold output in Azerbaijan
International airport being built in Uzbekistan's Samarkand
Iran top OPEC oil producer for March 2021
Total assets of Azerbaijan's Kapital Bank increase
Japan provides loan to Uzbekistan within socio-economic dev't
Iran expects increase in production
Azerbaijan restoring roads in Tartar damaged during Second Karabakh War (PHOTO)
Memorandum of Understanding on co-op between Azerbaijan and OIC in field of statistics approved
COVID-19 affects trade turnover between Switzerland, Azerbaijan - ambassador
President of Afghanistan holds meeting with Nizami Ganjavi International Center (PHOTO)
Volume of natural gas industrial treatment at Turkmenistan’s Galkynysh field revealed
Iran has to take advantage of regional markets - Chamber of Commerce
Russia discloses volume of Sputnik V vaccine to be supplied to Azerbaijan
Azerbaijan shares data on cancelled tender, quotation poll results
Iran, Qatar may connect their power networks
Azerbaijan reveals 2M2021 data on cargo movement via TRACECA
Georgia sees increase in production of nuts and grapes
Meetings held in Azerbaijan with representatives of state bodies to switch to G-Cloud
Azerbaijan Airlines’ Supervisory Board holds first meeting (PHOTO)
China to invest in development of Iranian ports
Production of wheat and potato in Georgia increases
Switzerland sees potential in strengthening co-op with Azerbaijan in energy field
Uzbekistan interested in import of livestock from Kyrgyz Republic
Turkmenistan receives new industrial oil inflow
Uzbekistan discloses processing capacity of sunflower seeds by 2022
Azerbaijan talks reconstruction of several fish farms
VTB Group concludes deal for acquisition of Kazakhstan's KAZ Minerals
SOCAR boosts exports of oil, petrochemical and gas-chemical products
State Tax Service of Azerbaijan talks tax fees for online services
Passenger transportation indicators plummet in Kazakhstan
Azerbaijan's 1Q2021 GDP slightly decreases
Azerbaijani president, first lady view renovation, restoration work in Baku's Pirshaghi settlement (PHOTO)
Azerbaijan’s gas exports see 45% growth
Azerbaijan boosts gas exports via Baku-Tbilisi-Erzurum in 1Q2021
Azerbaijan records surplus in 1Q2021 state budget
Azerbaijan decreases oil exports via BTC
SOCAR increases gas output y-o-y
Uzbekistan to invest in viticulture dev't
Kazakhstan’s national postal service operator to buy consumables via tender
Uzbekistan continues ramping up flour, cereal exports
Mine explosion in Azerbaijan takes life of one more serviceman
Uzbekistan, Russia implementing numerous joint projects
Georgia reports 1,077 new cases of coronavirus for April 16
New Delhi a natural partner in shaping Indo-Pacific region: Australian PM Scott Morrison
Economist Intelligence Unit calculates 13 per cent growth for India, more than IMF prediction
Kazakhstan boosts exports to Russia over 2M2021
French Bouygues carries out construction of two new facilities in Turkmenistan
Azerbaijan's ADIF shares data on compensations paid to depositors of closed banks'
No point in discussing Nagorno-Karabakh problem in previous context - Russian expert
2021 to see over 3% increase in global gas demand
Georgia sees increase in hotel price index for March 2021
Kazakhstan unveils timeframe for large-scale crops sowing
Kazakhstan shares vehicle production data
Prices for precious metals up in Azerbaijan
Turkmenistan signs number of documents with international organizations
EBRD to invest in another project in Azerbaijan
National Bank of Georgia sells funds to stabilize lari exchange rate
Azerbaijan sees growth in retail turnover of ICT products from early 2021
IMF eyeing support to Kazakhstan's cybersecurity and risk management sectors
Iran - P5+1 on right track in Vienna talks - Deputy FM
Italian Senate delegation visits Azerbaijan's liberated Aghdam (PHOTO)
Islamic Solidarity Games-2021 may be postponed - Federation's Executive Committee
Azerbaijan’s pipeline gas deliveries set to increase by over 15%
1Q2021 volume of sold food products in Azerbaijan's trade network up
Denmark speeds up reopening as epidemic stabilises
Azerbaijan IT company monitoring performance of financial structures
Kazakhstan carrying out several projects to boost local cars manufacturing
Turkmen-Chinese partnership has potential in number of areas
European new car sales jump 87% year-on-year in March
Kazakh-German oil extracting JV opens tender for design documentation dev't
Azerbaijani oil prices disclosed
Azerbaijani gas among drivers of Eurasian output growth in Q1 2021
None of Armenian PM's statements worth meaningful comment - Azerbaijani MFA
Axpo plans to produce green hydrogen
Oil climbs to four-week high on strong China data, demand revival
Azerbaijani insurer reports profit growth year-on-year
Kazakhstan's trade structure with EAEU countries for 2M2021 unveiled
Azerbaijani currency rates for Apr.16
Azerbaijan shares footage from Aghdam's Baghbanlar village (VIDEO)
Azerbaijan records high demand for underwriting services in local capital market
Coca-Cola Amatil votes in favour of European bottler's $7.68 bln takeover deal
Share of Azerbaijani gas in Greece’s imports reach 18%
Armenia violating int'l legal principles by refusing to give up minefield maps - Chair of Azerbaijani Parliament
SOCAR announces time of starting gas injection into storages
Rostselmash talks plans on supply of agricultural machinery to Azerbaijan
Azerbaijan enhancing support to SMEs (PHOTO)
Co-op between Azerbaijan, Uzbekistan progresses in all areas - Chair of Azerbaijani Parliament (PHOTO)
Thailand reports record daily number of 1,582 coronavirus cases
Mine clearing operations continue in Azerbaijan's liberated Aghdam
COVID-19 negatively affects mobile segment in Georgia
All news