State fund: Average monthly pensions in Azerbaijan increased by 14 percent in first quarter
Azerbaijan, Baku, April 13 / Trend A.Badalova /
By the end of the first quarte, the average monthly labor pension reached 114 manat, which is 14 percent more than during the same period last year, Azerbaijani State Social Protection Fund Chairman Salim Muslimov said at a Cabinet of Ministers meeting chaired by President Ilham Aliyev. The meeting was held on socioeconomic development in the first quarter of 2011.
Muslimov said the main factors affecting growth are increasing the basic segment of pension by 13.3 percent to 85 manat from September 2010, indexing the insurance segment of pensions, and indexing the average volume of newly set pensions, which is 50 manat more than the average monthly pension for those who are outside the pension system.
The official exchange rate is 0.792 manat on April 13