Azerbaijan liquidates basic part of labor pensions

The basic part of labor pensions will be eliminated in Azerbaijan.

Oxu.Az informs with reference to Report that the due issue was reflected in the draft amendments to the law "On labor pensions".

Instead, the amount of the minimum pension will be set at AZN 110.

The payment to the citizens, who retired before January 1, 1992, will be made by the State. A compensation for citizens who retired before 2006, will be provided by the Ministry of Labour and Social Protection of Population. For those retired after 2006, this amount will be freely accumulated and accrued.

News.Az

 

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