Bank Of Baku

Insurance part of pensions to increase by 7.9% in Azerbaijan

Insurance part of pensions to increase by 7.9% in Azerbaijan
# 01 February 2012 09:18 (UTC +04:00)
Baku. Rashad Suleymanov – APA. The indexation of insurance part of pensions will be carried out in Azerbaijan in the near future in accordance with consumption prices index of 2001, Chairman of the State Social Protection Fund (SSPF) Salim Muslumov told reporters in his meeting with members of the Caspian European Integration Business Club, APA reports.

Muslumov said that SSPF addressed the State Statistics Committee and got consumption prices index of 2001 and added that the decision would be passed on it in the next few days.

“The consumption prices index in the country last year was 7.9%. It affords ground to say that the insurance part of the pensions will be increased by 7.9% from January 1.

Muslumov also added that the next growth would depend on the amounts of compulsory social insurance.
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