Baku, Azerbaijan, Oct. 15
Trend:
The average monthly pension in Azerbaijan as of October 1, 2018 increased by 8.4 percent compared to the same period of 2017, reaching 221.1 manats, the Ministry of Labor and Social Protection of Population of Azerbaijan said in a message on Oct. 15.
The average monthly old-age pension increased by nine percent to 249.1 manats over the same period. Funds allocated for pensions were 7.6 percent or 186.9 million manats more than in the first nine months of 2017.
There are over 1.3 million people of retirement age in Azerbaijan, which is 13.2 percent of the total population of the country. Some 58.5 percent of pensioners receive an old-age pension, 11.5 percent - a pension due to the loss of a family member, and the rest - a disability pension.