Number of recipients of labor pensions decrease in Azerbaijan
Azerbaijan, Baku, Oct. 29 / Trend N.Ismayilova /
The number of recipients of labor pensions decreased since early 2010, Azerbaijani State Social Protection Fund (SSPF) Chairman Salim Muslimov said at a news conference in the headquarters of New Azerbaijan Party today.
"If the figure was 1.308 million people in early 2010, the figure dropped to 1.291 million as of July 1 and 1.287 million people as of Oct.1," Muslimov said.
Muslimov said this maybe linked with the fact that the number of appeals in connection with the retirement decreased. The fund has applied a new pension calculation system in relation to 8,800 people since July 1.
"We expected this figure to reach about 14,000 people. Thus, we continue to study the situation, but according to our preliminary assumptions, the citizens of retirement age do not retire, as they intend to accumulate a large sum in savings account," he said.
The country opened 122,082 individual accounts for insured persons since early 2010, as a result their number totaled 1.762 million. As of Oct. 1, the number of persons receiving pension hit 1.287 million people, 512,000 of which are male and 775,000 - women. 133,000 of them continue to work.
According to the law on labor pension, the right to a pension is given to men aged 62.5 and women aged 57.5. The age limit for men will rise annually by six months from January 1, 2010 - January 1, 2012, women - from January 1, 2010 - January 1, 2016, thus, being determined at about 63 and 60 years old respectively.
On Oct. 29, the official exchange rate is 0.8007 manat to $1.
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