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Azerbaijan gets 21% rise in pension payments

12 October 2012 11:40 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. According to initial information, State Social Protection Fundâ€™s incomes made AZN 1,833.9 mln during January-September, 2012, up 20.3% from year earlier. Fundâ€™s PR department says the premiums on compulsory state insurance rose 15.2% to AZN 1,000.4 mln.

61.2% or AZN 612.5 mln of these receipts belongs to non-budgetary sector. The state social insurance premiums paid by the same sector rose 18.7%, forecast was fulfilled by 109.9%.

Generally, the forecast on compulsory insurance premiums was over fulfilled by 0.4%.

The receipts on individuals soared 16.1%, incomes from property owners â€“ 31.4%.

Receipts from organizations financed by budget stood at AZN 388 mln. Social insurance premiums by this sector rose 10% in comparison to a year earlier.

Receipts on other incomes made AZN 5.2 mln.

Fundâ€™s expenditures made AZN 1,809.6 mln. Fund directed AZN 1,774.5 mln to finance the pensions and benefits, up 20.3% compared with a year earlier. Pension expenses surged 20.7% to AZN 1,732.9 mln. Population was paid AZN 41.6 mln-benefit during January-September.

In accordance with the order of President, 7.9%-growth was applied to the insurance part of all labor pensions.

According to initial information, as of October 1, average monthly sum of labor pensions made AZN 151.3 mln, as well labor for age â€“ AZN 167.7.

SSPF other expenditures made AZN 35.1 mln.