Bank Of Baku

Azerbaijan tries to increase number of persons attracted to social insurance system

Azerbaijan tries to increase number of persons attracted to social insurance system
# 28 January 2011 12:07 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. The number of insured persons in compulsory social insurance system owning private account makes 1 800 452, in Azerbaijan, SSPF chairman Salim Musluov told APA. He noted that the Fund had opened an account for 160 523 insured persons, in 2010.
The ratio of insured number to pensioners’ number is not acceptable compared to world practice. That’s why works are underway to increase the number of insured. According to him, all organizations must submit the document on tender which amounted over AZN 50 000 to the Ministry of Taxes.

He also noted that, retail trade, construction, agrarian and private entrepreneurship spheres get position out of the process about increase of insured persons.
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