Average pension in Azerbaijan to reach $376 in 2027

The average pension in Azerbaijan is expected to reach 595 manats in 2026, and will increase by 45 manats to 640 manats in 2027, Chairman of the Milli Majlis Committee on Labor and Social Policy Musa Guliyev said at a joint meeting with the Committee on Economic Policy, Industries, and Enterprising, Report informs.

"As in previous years, the ratio where the average monthly pension is at least 50% of the average monthly wage will be maintained this and next year. Thus, pensions will comply with the minimum social security standard of 40% stipulated by the relevant convention of the International Labour Organization," he noted.

Furthermore, the MP noted that since 2019, the minimum labor pension in Azerbaijan has exceeded the subsistence minimum set for pensioners.

"This criterion will remain next year," Musa Guliyev added.

($1=1.7 manats)