Azerbaijan to make changes in the structure of social insurance premiums till the end of next year

Azerbaijan to make changes in the structure of social insurance premiums till the end of next year
# 28 August 2013 13:28 (UTC +04:00)

If currently, the 22% of salary in social contributions is paid by employer, 3% - by employee, in future this ratio is expected to change 18% and 7%. Muslumov noted that this process functions in the European and CIS countries and the amount of funds which people pay from their salary increases. As a result, the share of workers increases, the responsibility of employer decreases.

To him, this process is considered in the reform program of Azerbaijan’s pension system. Muslumov said that the mentioned changes would be made this year or next year.

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THE OPERATION IS BEING PERFORMED