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Pension and benefits to soar in Azerbaijan, next year

Pension and benefits to soar in Azerbaijan, next year

30 October 2012 15:03 (UTC +04:00)

To him, transfer from state budget is considered at AZN 1,077 mln, up AZN 33 mln from 2012. Consequently, share of transfer from state budget in Fundâ€™s incomes will fall from 42% to 40%.

The main increase in fundâ€™s incomes is considered on compulsory state insurance premiums. Social insurance payments are considered to increase by AZN 150 mln or 10%. So, both base and insurance part of pensions is expected to soar in 2013.

â€˜If increases will go on in such way, there will occur financial resources, which we can address the Presidentâ€™, said Muslumov.

Besides, benefits given by the Fund, including disability, pregnancy and delivery, funeral benefits are also expected to rise next year.

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