Access to pension problems in Azerbaijan completely solved in 2013

Access to pension problems in Azerbaijan completely solved in 2013

Azerbaijan, Baku, Nov. 30 / Trend A. Akhundov /

The agent banks paying pensions in Azerbaijan - International Bank of Azerbaijan (IBA) and Kapital Bank will soon commission new ATMs for people to draw out their pensions more easily, chairman of the Azerbaijani State Social Protection Fund Salim Muslimov said today during the final discussion of the fund's draft budget for 2013 in the Azerbaijani Parliament.

"Kapital Bank will bring and install 30 new ATMs in the country in early 2013," he said. "Moreover, IBA will soon bring two new mobile ATMs. This problem will be completely solved in 2013."

He said that taking into account the proposals of several MPs, the delivery cost of retirement benefits to the population has been reduced by 300,000 manat from a previously projected 20 million manat.

"These funds will be used to increase spending on health improvement and resort and sanatorium treatment, as well as recreation for insured people's children in the camps," he said. "Thus, the costs on this article reached 17.75 million manat."

On Friday, the country's parliament approved the fund's revenues and expenditures for 2013 at 2.633 billion manat, or 7.29 per cent more than in 2012.

According to the forecasts, the fund's income was formed mainly from the proceeds of compulsory deductions for social insurance at the level of 1.55 billion manat.

The budget organisations plan to transfer 539.19 million manat to social insurance and employees of budget organisations - 73.526 million manat.

Around 77.442 million manat will be obtained through subsidies granted by the state, the income obtained from extra-budgetary funds of budgetary organisations, as well as through using the new mechanism of financing universities and 860 million manat - other socially insured people.

Proceeds from the socially insured physical entities engaged in entrepreneurial activity are projected at 33.5 million manat, and other income at 5.5 million manat.
Transfers from the state budget are projected at 1.077 billion manat, while in 2012, deductions from the state budget amounted to 1.044 billion manat.

According to the projections for 2013, around 2.57 billion manat of the fund's expenditure falls to payments to the population as a whole, including the payment of pensions - 2.5 billion manat (1.358 billion manat envisaged for the payment of the basic part of labour pensions, the insurance part - 1.142 billion manat). Benefits will be paid to the sum of 69.98 million manat through deductions from the compulsory state social insurance.

Around 18 million manat is envisaged for benefits for people who temporarily lost efficiency, 22 million manat for pregnancy and childbirth, 12.671 million manat for a funeral and eight million manat for childcare up to three years and 4.809 million manat - unemployment.
It is planned to allocate 23.5 million manat for the maintenance of the State Social Protection Fund and its bodies.

Around 1.43 million manat will be spent for expenses to take the measures envisaged by the state programme for pension insurance system development in Azerbaijan in 2009-2015.

The official exchange rate is 0, 7847 AZN/USD on Nov. 30.

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