Azerbaijan, Baku, Dec.29 / Trend U. Ismayilova /
In 2010, the Azerbaijani State Social Protection Fund (SSPF) fulfilled four orders of the president to strengthen the social protection of labor pensioners, the SSPF said today.
"Pursuing the state policy in the sphere of pension reform continued in 2010," the SSPF said.
In early 2010, in accordance with president's decree on indexing the insurance part of labor pensions, the indexing was done at the level of inflation of last year. From Jan.1, 2010 the basic part of age pension for participants of the Great Patriotic War increased by 30 manat. The Great Patriotic War participants, widows and the war participants, who died after the war were provided with one-time payment of 500 manat and were awarded medals and orders for unpaid work on the domestic front in the amount of 200 manat. In accordance with the the President's order from Sept.1, 2010 the basic part of labor pensions increased by 13.3 percent, from 75 manat to 85 manat.
During the year, timely funding and issuing of pensions to the population was ensured, the SSPF said.
In 2011, the Azerbaijani State Social Protection Fund intends to continue the policy of strengthening social protection of pensioners and ensuring fulfillment of social insurance reforms.
Next year, the payment to the population is forecasted to be at 97.2 percent, or 1.916 billion manat from the Social Fund's budget. In 2011, the payment amount is expected to rise compared to the current year by 11.7 percent or 200 million manat.
The funding for labor pensions in 2011 is expected to hit 1.852 billion manat, which is 11.4 percent or 189.9 million manat more than in 2010. Expenditures on the basic part of labor pensions with the additions are forecasted to be around 1.317 billion manat, which is 12.8 percent or 149.6 million manat more than in 2010. The share of financing the insurance of labor pensions in the fund's budget will be 29 percent.
Forecasts for issuing grants through transfers of payments on compulsory social insurance is 64.5 million manat, which is 18.7 percent or 10.2 million manat more than in 2010.
The State Social Protection Fund of Azerbaijan intends to continue implementing reforms in line with the state program of development of pension-insurance system in Azerbaijan during 2009-2015, the fund said.