Azerbaijan reveals data on pensions, benefits for 1Q2020

Azerbaijan reveals data on pensions, benefits for 1Q2020

BAKU, Azerbaijan, May 27

By Eldar Janashvili – Trend:

The amount of funds allocated for financing pensions and benefits in Azerbaijan increased by 25 percent from January through March 2020 compared to the same period in 2019 and reached 1.15 billion manat ($680 million), 98 percent of which accounted for pension expenses, Trend reports with reference to the country's State Statistical Committee.

As of April 1, 2020, the State Social Protection Fund under the Ministry of Labor and Social Protection of the Population registered 1.26 million pensioners, which is 12.7 percent of the country's population. Of these, 58.4 percent received an old-age pension, 30.2 percent - disability pension, 11.4 percent - due to the loss of the head of the family.

The average amount of monthly pensions assigned increased by 28.3 percent, compared to the corresponding period of last year and amounted to 297 manat ($174.7), or 39.9 percent of the average monthly salary.

In order to strengthen social protection of pensioners in the country, in accordance with the Presidential Decree No.1802 dated February 6, 2020, in accordance with the annual growth rate of the average monthly nominal wage in 2019, from January 1, 2020, the insurance part of all types was indexed and increased labor pensions. As of April 1, 2020, 416,900 people were assigned social benefits.

The number of recipients of age benefits amounted to 94,000 people, disability – 183,800 people, due to the loss of the head of the family – 48,500 people; children under 18 years of age receiving health benefits – 61,800 people, recipients of other benefits – 28,800 people. Some 1,500 people not eligible for a retirement pension received benefits for utilities, transport and other services.

As many as 266 guardians of children who lost their parents and deprived of parental care received a monthly allowance.

In addition, monthly benefits were provided to 8,600 families of war martyrs, persons with disabilities due to the war or the events of January 20, 1990, as well as to participants in the liquidation of the Chernobyl disaster consequences.

Social benefits were paid to 2,218 low-income families with children under the age of one year and 2,600 women with children over five years of age, and 388 people who lost their professional ability to work due to work-related injury or occupational disease received compensations.

For the three months of 2020, the Ministry of Labor and Social Protection of the Population issued lump-sum allowances to 20,462 families for 20,784 children. As of April 1, 2020, 317,600 members of 76,400 poor families received targeted state social assistance.

(1 USD = 1.7 AZN on May 26)

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Follow the author on Twitter: @eldarjanashvili

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