AZN 27 mln. to be spent for maintenance of SSPF next year

AZN 27 mln. to be spent for maintenance of SSPF next year
# 07 October 2015 15:03 (UTC +04:00)

Baku. Mubariz Aslanov - APA. Social Policy Committee of Azerbaijani Parliament has today discussed draft law on “Budget of the State Social Protection Fund of Azerbaijan for 2016”, as well as subsistence minimum and need criteria, APA reports.

Chairman of the committee Hadi Rajabli said that the Fund’s budget made AZN 1.971 bln in 2011 while it was AZN 567.6 mln in 2006.

SSPF Chairman Elman Mehdiyev said the incomes of the Fund in 2016 will make AZN 3,078,600,000, up AZN 22.3 mln or 0.7% in annual comparison: “64.1% of these incomes will make compulsory state social insurance premiums (AZN 1,972,200,000, up AZN 22 mln 2015’s forecasts). 64.5% or AZN 1,272,000,000 will come fromnon-budgetary sector, up AZN 20.9 mln from 2015. Receipts from individuals engaging in entrepreneurship are forecasted at AZN 53.5 mln”.

The chairman noted that allocations from state budget will remain unchanged at AZN 1.1 bln: “Receipts from other incomes are forecasted at AZN 6.4 mln”.

Speaking about expenditures of the Fund, Mehdiyev stated that payments to population will make AZN 3,011,200,000, up AZN 22 mln or 0.7%: “Payments for labour pensions will make AZN 2,923,600,000 or 97.12% of payments to population. The growth in this sphere makes AZN 0.4% or AZN 13.1 mln. Expenses on benefits from compulsory insurance premiums will increase AZN 8.9 mln or 11.3% to AZN 87.6 mln”.

According to him, the expenses for service fees on delivery of pensions and benefits to population, conduction of bank operations will make AZN 20 mln.

“AZN 27 mln to be spent for maintenance of SSPF next year”, Mehdiyev said.

All three issues were recommended to the plenary meeting of Parliament after discussion.