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Azerbaijan to develop new electronic service Pension Calculator

4 September 2020 14:53 (UTC+04:00)
Azerbaijan to develop new electronic service Pension Calculator

By Ayya Lmahamad

Azerbaijan is developing a new and expanded electronic service “Pension Calculator”, the Ministry of Labor and Social Protection has reported.

The service is being developed as part of the e-learning program by the Ministry of Labor and Social Protection of Population.

It will enable citizens to know in real time when and under what conditions the pension stipulated by the legislation will be assigned.

Moreover, the calculator will provide information on the date and the age of eligibility for the old-age pension, as well as the required length of services for all three types of pensions (by age, disability or loss of the family head), pension capital and current pension status.

The new electronic service will be provided to citizens within the next month.

It should be noted that the average monthly pensions in Azerbaijan increased by 27 percent in the first six months of current year reaching $176.4. Meanwhile, average monthly retirement pensions increased by 25.24 percent to about $194.1 during the reporting period.

Likewise, it is expected that as of 1 July 2020 and 30 June 2021, the retirement age for men will be 65 years and for women 62 years.

In addition, Azerbaijan, with an index of 476 international dollars, ranks first among CIS countries for the level of the minimum pension.

Azerbaijan has also modernized the system of provision of pensions. The Automated Pension System, which has been in operation since early 2019, is the first proactive service in the country that allows persons entitled to a pension to automatically receive a pension without going to any institution and without having to provide documents.

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