SOCAR remains most active participant in pension system in Azerbaijan
Azerbaijan, Baku, Sept.20 / Trend N. Novruzov /
The average monthly pension for oil workers in Azerbaijan is currently 320 manat, the State Social Protection Fund of the Azerbaijan Republic (SSPF) said on Monday, the day the country marks the professional holiday of oil workers.
"The number of pensioners who have worked in the oil sector, is about 25,000 people," the SSPF said.
During the eight months of 2010 the State Oil Company of Azerbaijan (SOCAR) made contributions to compulsory social insurance worth 67.3 million manat.
"Today, SOCAR is the most active participant in the newly established social pension system," the SSPF said. "The company is a leader in the number of insured persons registered in the system of individual accountability and has a high share of contributions to compulsory state social insurance."
Sept. 20 was declared Oil Workers Day by former president Heydar Aliyev in 2001.
Official exchange rate for Sept.20 was 0.8033 manat to $1.