Azerbaijan, Baku, Feb. 2 /Trend A.Akhundov/
State Social Protection Fund of Azerbaijan has prepared a proposal to amend the law On Pensions, according to basic pension won't be paid to labor migrants in Azerbaijan, chairman of the State Social Protection Fund of Azerbaijan Salim Muslimov told Trend.
State Fund will present proposals to the Cabinet in the coming days. Pension in Azerbaijan consists of two parts - basic and insurance. The base part of the pension amounted to 85 manat.
"According to these amendments, deductions paid to migrants on compulsory social insurance should be fully credited to their account and the benefits must be deducted from these funds. Thus, they pay deductions to the Fund, benefits are deducted there, and then when the time comes, this volume is divided by 144 in order to count the pension. Thus, they have not paid the basic part " Muslimov said.
Muslimov noted that no matter where those persons are at retirement age, they may apply to the fund and receive their pension
There are individual accounts of 12 200 foreigners in the State Fund of social protection in Azerbaijan.
Official exchange rate on Feb.2 is 0.7863 AZN/USD