Bank Of Baku

State Social Protection Fund won’t attract the employed to social insurance

State Social Protection Fund won’t attract the employed to social insurance
# 29 June 2007 14:40 (UTC +04:00)
“We want the average monthly pension to reach 40% of average salary. If we want to grant pension benefits amounting 40% of salary, the social insurance rate should be 30%. The rate is 20% here,” said Azerbaijan State Social Protection Fund chair Salim Muslumov.
He added that Azerbaijan joined European Social Charter and the Charter says that the pension benefit has not to be below 40% of the salary.
“It is difficult to attract all the employed to social insurance. We managed to register 183,000 of over 2 million people living rural areas,” he added. /APA-Economics/
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