Claims have been circulating on social media suggesting that the increase in life expectancy could lead to a rise in the retirement age in the future.
In response to APA’s inquiry, the Public Relations Department of the Ministry of Labor and Social Protection of the Population stated that currently there are no proposals under discussion regarding an increase in the retirement age.
It was noted that, along with ensuring the continuous growth of social payments, including pensions, these payments are disbursed on time each month by the State Social Protection Fund (SSPF): “At the same time, targeted efforts are being made to ensure the financial sustainability of the Fund.
Steps are being taken to ensure transparency through the widespread implementation of digital solutions in the insurance-pension system, as well as to involve the Fund’s free resources in investment activities.
Within the framework of these measures, there are currently no proposals being discussed regarding an increase in the retirement age,” the response added.
It should be recalled that yesterday, the Ministry of Finance stated in the “Medium-Term Expenditure Framework for 2026-2029” that in 2024, the life expectancy in Azerbaijan reached 74.6 years, and based on current growth trends, it is expected to reach 78.6 years by 2050, according to UN projections.
“The mentioned demographic aging, informal employment, structural changes in the labor market, and global challenges make it a priority to adjust the population’s pension provision to meet increasing modern quantitative and qualitative requirements. To ensure sustainable, fair, and reliable social protection for pensioners, it is of great importance to continue reforms aimed at enhancing the financial sustainability of the insurance-pension system and strengthening insurance principles,” the report noted.
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