Pensions to rise in Azerbaijan in 2013
Azerbaijan, Baku, June 27 /Trend A.Akhundov/
State Social Protection Fund (SSPF) of Azerbaijan doesn't expect pensions increase in the country this year, chairman of the State Social Protection Fund Salim Muslimov told reporters on Wednesday.
"Pensions are dependent on social security taxes. Admission fees are in line with the forecast, there is no sharp rise. So now there are no opportunities to make changes to the budget of the state fund in 2012" Muslimov said.
He said the increase in pensions will be possible in 2013.
"We will provide the means to increase the insurance part of pensions in the next year" Muslimov said.
The number of people receiving labor pensions amounted to 1.275.630 persons in Azerbaijan, as of April 1, 2012.
Serious steps to strengthen social protection of labor pensioners have been taken as a result of reforms implemented in 2011 in the pension-insurance system. It led to an increase in the average amount of labor pension. So, the average monthly pension amounted to 150 manat and , and the sum of the average monthly labor pension age - 166 manat on April 1, 2012.
The ratio of average size of pensions in the country to the average wage was 40 percent, labor pension age - 45 percent.
In Azerbaijan, labor pension consists of two parts - base and insurance. Currently, the basic pension in the country is 85 manat.
Official exchange rate on June 27 is 0.7857 AZN/USD.