Azerbaijan plans to launch a new pension formula

Baku. 14 October. REPORT.AZ/ Azerbaijan plans to launch a new pension formula.

Report informs, Chairman of the State Social Protection Fund, Elman Mehdiyev said in his speech, during the discussion of the state budget and other budget bills of the package.

According to him, the draft amendments of the draft law provides launching of new pension formula: "It is possible, it to be applied for social insurance premiums paid at the initial stage. Maybe will be set the minimum pension capital. If the accumulation of social incurance capital doesn't allow to assign a minimum pension, the state may bring capital to the minimum index and change the requirements for social insurance experience of these persons."