Number of labor pensioners up in Azerbaijan

Finance Materials 23 January 2020 15:12 (UTC +04:00)
Number of labor pensioners up in Azerbaijan

BAKU, Azerbaijan, Jan. 23

By Eldar Janashvili – Trend:

The minimum pension in Azerbaijan is the highest among the CIS countries in terms of purchasing power parity in accordance with the calculations of the International Monetary Fund, Trend reports referring to the report of the Azerbaijani State Statistics Committee.

As of January 1, 2020, the number of pensioners in Azerbaijan reached 1.3 million people, which is approximately 12.8 percent of the country's population.

In accordance with the relevant amendments to the Azerbaijani Law on Labor Pensions, the minimum pension as of October 1, 2019 was set at 200 manat ($117), which is 80 percent of the minimum monthly salary.

Some 400.4 people received social benefits and 295.7 people received presidential scholarships in early 2020. A one-time benefit covered 89,300 people in 2019.

(1 USD = 1.7 AZN on Jan. 23)


Follow the author on Twitter: @eldarjanashvili