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Azerbaijan increases insurance part of labour pensions

President of Azerbaijan Ilham Aliyev has issued an order on increase of indexation of insurance part of labour pensions.

The Ministry of Labour and Social Protection of Population is to provide increase of the insurance part of all types of labour pensions as of January 1, 2017 in accordance with the consumption prices for 2016.

 

At the same time, the Ministry is to carry out the indexation of insurance part of pensions and of pension capital accumulated on individual accounts.

 

The Cabinet of Ministers is to solve the issues arising from the order. 

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