Finance

Finance

SSPF gets 12% rise in receipts on compulsory social insurance premiums

05 July 2013 08:49 (UTC +04:00)

Baku. Aynur Aliyeva – APA-Economics. In January-June, 2013, revenues of State Social Protection Fund made AZN 1,306.6 mln, up 1.9% from 6-month forecast.

Fund’s press service says during the reporting period, the receipts on compulsory state social insurance premiums rose 11.9% to AZN 723.8 mln exceeding the forecast by 3.1%. 63.9% or AZn 462.8 mln of the receipts on compulsory state social insurance premiums falls to share of non-budget sector.

The compulsory state social insurance premiums paid by this sector was 19.8% or AZN 76.7 mln than previous year. In this period, the receipts from individuals engaging in entrepreneurship rose 47.9%, from land owners – 55.1%.

Moreover, the receipts on the institutions financed by the budget stood at AZN 261.0 and the forecast was fulfilled by 81.3%.

Receipts on other incomes (payment of partly cost of sanatorium-resort sending and etc.) were AZN 5.7 mln. AZN 577.1 mln from state budget was transferred to the Fund’s treasury.

SSPF’s expenditures made AZN 1,241.9 mln.

Fund directed AZN 1,219.0 mln to financing of pensions and benefits, up 3.5% from a year earlier. Pension expenditures rose 3.5% to AZN 1,190.6 mln.

Note that in accordance with the relevant order of the president, from January 1, 2013, the insurance part of all labor pensions rose 1.1%.

In January-June, 2013, AZN 28.4 mln benefit was paid to the population, which 29.9% went to pregnancy, 29.8% - to temporarily losing working ability, 16.1% - to burial, 24.2% - other benefits.

SSPF’s other expenditures made AZN 22.9 mln (including, AZN 9.3 mln – for maintenance of Fund and its local authorities, AZN 4.9 mln – for service fee on delivery of pensions and benefits to population, conduction of bank operations, AZN 8.1 mln – for expenditures financed through Azerbaijan Trade Unions Confederation), up 8% from 2012.