Global crisis not affect pension payment in Azerbaijan
Azerbaijan, Baku, September 9 / Trend , U.Ismayilova /
The global financial crisis did not create problems for the State Social Protection Fund of Azerbaijan to pay the pensions, said deputy chairman of the Fund Elman Mehdiyev.
"State Fund provides a monthly payment of pensions to all pensioners, without any delay," - said Mehdiyev.
He said the State Fund receives regular and timely payments on compulsory social insurance, and therefore, there are no problems with the financing of pension payments.
Mehdiyev said that problems exist only with larger budget organizations, which have suspended their activities for one reason or another reason, and their debts are frozen until the full resumption of work.
In January-October 2008, the employees of government-financed organizations created 96 million manat debt on compulsory social insurance to the State Social Protection Fund of Azerbaijan, which led to a budget deficit for the Fund, said earlier the head of the State Fund Salim Muslimov.
The budget for the Fund for the year 2009 fees for compulsory social insurance laid at 1.27 billion manat. The increase in collection from the private sector is expected to reach 35.6 percent.
The problem with the compulsory insurance payment in 2009 can exist mainly in the private sector due to attracting employees for the payment of insurance from the next year.
The minimum level of labor pension in Azerbaijan is 75 AZN. There are three types of pensions - labor pension, age pension and pension for the loss of head of household.
Official rate on September 9 is 0.8035 AZN/USD.
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