Pensions to be increased
Increasing the basic part of labor pension in accordance with
the order signed Jan. 16 by the Azerbaijani President Ilham Aliyev,
will cover 1,223 million retirees, said Elman Mehdiyev, Chairman of
the State Social Protection Fund at the press conference on January
18.
About 140 million manats will be sent for financing the increase of
the basic part of labor pensions before the end of the year, he
said.
Under the presidential order, the basic part of labor pensions will
be increased from February 1, 2016 to 110 manats.
He also noted that the increase will not affect 73,000 government
employees, because the order of increasing their pensions differs
from the conventional and is carried out in accordance with the Law
on Labor Pensions.
Mehdiyev also added that increase by 10 manats will cover the
pensions of those who receive 100 percent of the basic pension
(1.169 million people), by 13 manats – pensions of those who
receive 120 percent of the basic pension (17,000 people with the
exception of the first group visually impaired people), as well as
by 21 manats – pensions of those who receive 200 percent of the
basic pension (8,700 people).
In addition, increase by 20 manats – up to 220 manat – will cover
the basic part of pensions of the national heroes’ family members,
and by 18.5 manats – up to 203.5 - the basic part of martyrs'
families’ pensions.
Mehdiyev said that increase by 11 manats will cover the basic part
of pensions of war participants (except for veterans of the Great
Patriotic War - GPW), by 19 manats – the basic part of pensions of
GPW participants, by 25 manats – GPW’s veterans, people with
disabilities of the 1st group, by 21 manats – GPW’s veterans,
people with disabilities of the 2nd group, by 19 manats – GPW’s
veterans, people with disabilities of the 3rd group.
The official rate as of Jan. 18 was set as 1.5870 AZN/USD.
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