Azerbaijan, Baku, Oct. 5 / Trend A. Akhundov /
As of October 1, 2010, the number of people insured in the individual registration system of the Azerbaijani State Social Protection Fund on compulsory social insurance increased by 7.4 percent compared to early 2010, the report said.
The state fund opened personal accounts for 122,082 people for the first nine months of this year. The total number of participants in the system of individual registration of the State Fund has reached 1,762,011 people. Over 974,922 people are men, 787,089 - women.
Organizing and keeping records of information on each insured person is a prerequisite to ensure the right to retirement pension and other rights of social protection in accordance with Azerbaijani legislation. They are calculated according to the pension capital accumulated in individual accounts in accordance with the law "Labor pensions".
The age of 466,824 people who have a personal account in the system of individual registration varies from 40-50. Over 416,127 people are under 30, roughly 392,574 people - 30-40, roughly 343,110 people - 50-60, roughly 143,376 people - older 60.