Retirees servicing rate in Azerbaijan fell to 0.1%

Business Materials 20 June 2006 14:40 (UTC +04:00)

Upon the request of State Fund for Social Security (SFSS), the bank service rate fir retirees fell to 0.1% of pension amount, Trend reports quoting Rauf Rzayev, chairman of board,. Kapitalbank.

This rate was 0.8-0.9% a couple of years back, but SFSS talked with the banks to reduce them.

Retires today are serviced in two banks, International Bank and Kapitalbank. 267,843 retirees today receive their pensions in Baku and Sumgayit and 217,073 in regions.