“The average monthly labour pension is forecasted to increase by 16% to reach AZN 293 in the country next year, Minister of Labor and Social Protection of Population Sahil Babayev said in his speech at a meeting on the economic area chaired by President of the Republic of Azerbaijan Ilham Aliyev on October 15, APA reports.
The Minister informed that as a result of the optimization, at the same time the cancellation of unjustified pensions, over the first 9 months of the current year, 99 million manats has been saved. As a result of continuing working in this direction, that amount will be more increased and will be directed to the steady increase in labour pensions.
Stressing the minimum labour pension was raised to 200 manat S. Babayev said that our country is in the first place in the CIS space on the purchasing power index of the minimum pension.
And according to the average monthly pension purchasing power index, our country may be in the first 2 places in the CIS space.
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