Azerbaijan develops a new pension reforms program

Azerbaijan develops a new pension reforms program
# 24 December 2008 14:38 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. A new pension reform program for 2009-2014 has been submitted to the presidential administration for approval, said Salim Muslimov, chairman of the State Social Protection Fund.
Accordign to him, the program provides for the harmonization of the pension system in Azerbaijan to Europe.
“The program reflects the long-term actuarial calculations, demographic and economic projections, enhancing social protection of pensioners,” he added.
According to Salim Muslimova, the program also will reflect the establishment of a budgeted monthly reserve fund to finance the pensions in order to avoid delays in payment.
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THE OPERATION IS BEING PERFORMED