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State Social Protection Fund holds board meeting on outcomes of 2013

11 February 2014 10:54 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Azerbaijan’s State Social Protection Fund held a board meeting on the outcomes of 2013 and tasks lying ahead, the Fund told APA-Economics. Chairman of the Fund Elman Mehdiyev said in 2013 the incomes of the State Social Protection Fund rose by 8% compared to 2012, social insurance incomes by 12.2%.

Chairman of the Fund said 62.5% or AZN 997.2m of social insurance revenues accounted for non-budget sector. It is up by 14.6%, this shows that compared to the previous year the forecast was fulfilled by 116%. Receipts from individuals rose by 28.5%, land owners by 21.8%.

Mehdiyev said the basic part of labor pensions in Azerbaijan reached AZN100, the amount of average pension to AZN170.4. The average amount of age pensions was AZN188.1. The amount of average monthly pensions exceeded poverty rate by 1.7 times.

Mehdiyev said the expenses of the State Social Protection Fund were AZN2 588.3m in 2013. The Fund spent AZN2 530.5m to finance pensions and allowances, this is up by 5.3% compared to the previous year. Compared to 2012 pension expenses rose by 5.3% to AZN2 468.2m. AZN62.3m allowances were paid to the population at the expenses of the compulsory state social insurance.

According to the chairman of the Fund, the number of labor pensions stood at 1 272,1 at the beginning of 2013, rose by 4100, or 0.3% and reached 1 276.2 by the end of the year.

Broad discussions were held on the measures towards the implementation of the tasks envisaged in the State Program (2009-2015) on the development of insurance-pension system in Azerbaijan. Instructions were given to expand coverage of compulsory state social insurance, improve pension provision of the citizens, accelerate steps for the automated assignment of pensions.