Basic pension in Azerbaijan to increase by 20 pct in 2013
Basic part of labor pension in Azerbaijan, which today is 85 manat, can grow by 15-20 percent in 2013, chairman of the State Social Protection Fund (SSPF) Salim Muslimov told reporters.
"Today, all measures aimed at bringing all workers to compulsory social insurance and legalization of money wages. Steps in this direction will increase the amount of fees for social insurance by 150 million manat, or by ten percent in 2013," Muslimov said.
He added that it will be possible to ensure the growth of the basic pension and the insurance part through this growth.
"Charges for social insurance are growing at a good pace, and if these growth rates continue, sufficient financial resources will be established to enable appeal to the government for increasing the basic pension," Muslimov said.
He noted that the social benefits paid by the Fund will increase due to the increase of the basic pension and the expected salary growth next year.
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