Azerbaijan, Baku, Dec. 12 /Trend, E.Ismailov/
State Social Protection Fund (SSPF) of Azerbaijan began to transfer funds for payment of pensions for December in Baku, the head of the State Fund Salim Muslimov said Sunday.
"On Saturday, the Fund has transferred funds intended for payment of pensions in six districts of Baku. Monday work will begin on transfer of funds for the remaining districts," said Muslimov.
Baku has 12 districts in total.
Commenting on the issue of increasing pensions in the country, Muslimov said that the conditions for this will be created after the employers fully indicate salaries in official documents and make 25 percent payments on compulsory social insurance. Currently, 25 percent of social security contributions is distributed as follows: 22 percent is paid by the employer from the salary fund and three percent - by the employee.
The average monthly pension in the country as of October 1 totaled 111 manat, and the amount of the labor pension under the new appointment - 162 manat. In Azerbaijan, pension consists of two parts - basic and insurance. Currently the basic pension in the country is 85 manat.
Official rate on Dec. 12 is 0.7990 AZN/USD.