The pension law is still being updated
In Azerbaijan from January 1, 2022 labour their pensions were increased by 3.4 percent in accordance with the annual growth rate of the average salary. Also until January 1 pension appointed labour to pensioners (who receive supplements due to length of service labour except pensioners) 20Financial assistance in the amount of AZN 0 is provided (50 AZN at the beginning of each quarter). This assistance will be included in the annual pensions of pensioners from January 1, 2023.
From January 1, the amount of labor pension to labor pensioners who receive supplements due to length of service 10 monthly financial assistance in the amount of interest is provided. From January 1, 2023, the assistance will be included in pensions of pensioners.
Labor and Population Social According to the information of the Ministry of Defense on September 28, a draft amendment to the law “On Labor Pensions” has been prepared, from January 1, 2023, all types of pensions will be indexed and increased: “Under special conditions pension paid to the monthly pensions of the recipients 10 interest, also paid to other pensioners during the year 200 AZN after financial assistance is included in their pensions pension their amounts will be indexed according to the annual growth rate of the average monthly salary.
For example, 400 manats during the pension and year 20The pension amount of the pensioner who received 0 manat financial assistance will be accepted as 416.7 manat from the new year and an increase of the indexation percentage will be calculated. Also a pensioner with special conditions military servantflour received during the current year, for example, 800 manat pension and 10 interest financial aid will be collected and accepted as 880 manats, on top of which an increase equal to the indexation percentage will be calculated.
The labor pension in Azerbaijan is indexed according to the annual growth rate of the average monthly nominal wage, the process is carried out by the State Statistics Committee on Labor and Population Social It is conducted on the basis of official information submitted to the Ministry of Defense.
The labor pension in Azerbaijan is indexed according to the annual growth rate of the average monthly nominal wage, the process is carried out by the State Statistics Committee on Labor and Population Social It is conducted on the basis of official information submitted to the Ministry of Defense.
According to the report of the State Statistics Committee, as of August 1, 2022 Azerbaijan average monthly nominal of salaried workers in the economy Salary compared to the same period of the previous year, it increased by 14.1 percent. The final annual figure will be announced in February 2023.
In Azerbaijan, men retire at 65 and women at 63. Until July 1, 2027, women too retirement age It will rise to 65.
The minimum amount of labor pension is 240 manats.
To retire, either 25 years of insurance experience or minimum pension capital (currently 34,560 manat) is required. Otherwise retirement age the person who arrives receives an allowance of 180 manats.