Azerbaijan will automate pension determination system

Azerbaijan will automate pension determination system
# 11 December 2008 13:36 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Next year in Azerbaijan will begin automating the system of determining pensions, said Salim Muslimov, chairman of the State Fund for Social Protection.
According to him, the amount of labor pension earned by citizens will be determined by January 1, 2006.
“This will put an end to the determination of the amount of pensions on the basis of information certifying wages. It should be determined through a single procedure and a complete rejection of old principles. We have reached a preliminary agreement with the government,” he added.
He noted that along with the new system, if desired, citizens may ask for calculation of their pensions on the basis of seniority.
“But in this case information will be collected on the amount of salary for the entire period of work life rather than the past two years. This amount will be averaged out to find the average salary,” he said.
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THE OPERATION IS BEING PERFORMED