Azerbaijan, Baku, Jan. 20 / Trend U.Ismayilova /
Indexation of pension insurance will be held in Azerbaijan, Salim Muslimov, Azerbaijani State Social Protection Fund head, said today.
"The indexation will be held in the amount of 1.5 percent in accordance with the inflation ratio in the country in 2009," Muslimov said
In February 2008, Azerbaijani President Ilham Aliyev signed a decree on the pension insurance indexation based on the previous year's inflation rate.
In 2008, labor pensions insurance was indexed with the amount of 20.8 percent.
In 2009, the inflation rate hit 1.5 percent, the committee reported
In 2009, total amount of labor pensioners increased with 27.000 people to 1.302 million.
In late 2009, average pensions hit 100.4 percent. The share of GDP payments hit 5.3 percent in 2009, which is the highest rate since Azerbaijan's independence period. This means an excess of five percent strips, recognized at international level.