Average monthly amount of pension in Azerbaijan to be increased by 7-8 manats

Business Materials 2 June 2006 19:55 (UTC +04:00)

Azerbaijan State Social Protection Fund (ASPF) is expecting to increase the average monthly amount of the pension in the country by 7-8 manats after accounting all raises in connection with the increase of the base part of the labour pension up to 30 manats from April 1. According to the statement of the chairman of the State fund Salim Muslimov made at the conference, the amount of the average pension at the end of the first quarter become 30,8 manats against 29,8 manats at the beginning of 2006.

Today there are 1126 411 pensioners in Azerbaijan. As a result of the first quarter, the number of the labour pensioners has increased by 2140 persons and reached 1 183 851 persons. 66% of them are due to age, 23% invalidity, and 11% receives pension because they have lost their family heads.

According to Muslimov, the minimal amount of the pension in the country is in amount of $33,2 and Azerbaijan cannot keep pace with countries such as Estonia ($ 101), Latvia ($87,8), Kazakhstan ($ 77,9), Lithuania ($72,8), Ukraine ($71) and Russia ($38), but pass ahead of Armenia ($9,53), Uzbekistan ($15), Georgia ($18,2).