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.
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