Pensions to surge in Azerbaijan
BAKU – The pensions of 845,000 Azerbaijani citizens will increase by an average of 40 percent, deputy head of the state social security fund has said.
Elman Mehdiyev said that after the country’s parliament passed amendments to the Law on Labor Pensions on Tuesday, their average monthly pensions will rise to 150 manats (around $190) from the current 114 manats.
The legislative changes, effective from July 1, envision increases in the pensions of people who retired before 2006.
The number of retired people in the country of 9 million is 1,290,000.
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