Azerbaijan will raise basic and insurance portions of pensions in 2009

Azerbaijan will raise basic and insurance portions of pensions in 2009
# 15 December 2008 16:15 (UTC +04:00)
Baku. Ilhama Isabalayeva - APA. Azerbaijan State Social Protection Fund plans to undertake several measures in the area of pension policy in 2009, said Salim Muslimov, Chairman of the Fund.
He added that a decree is due in January next year for indexing the insurance part of labor pensions.
According to him, the State Statistical Committee has to calculate inflation for 2008 before indexation.
“If inflation is around 20%, an additional 3-4 million manats will be required a month. The Fund’s budget provides enough funds for this purpose,” he added.
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