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Wednesday February 1 2023

Azerbaijan amends law on labor pensions

24 January 2023 14:15 (UTC+04:00)
Azerbaijan amends law on labor pensions

Azerbaijani President Ilham Aliyev has signed into law amendments to labor pensions.

Under the amendment, the amount of the overpaid labor pension and supplements to the labor pension are deducted from the labor pensioner only for the last three years. Prior to this, the entire overpaid amount was deductible.

This law has come into force since January 1, 2023.

Salaries, pensions, benefits, increased by the orders signed in 2023, are the continuation of the 4th package of social reforms from 2019, and this package is supposed to cover around two million Azerbaijanis throughout this year. It is planned to allocate an extra AZN750m ($441.1m) to this end.

Following President Ilham Aliyev's decree dated January 5, 2023, the minimum pension will amount to AZN280 ($164.58), and benefits and pensions will also increase. In this regard, the Cabinet of Ministers was instructed to prepare and submit its proposals to the president within ten days.

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