Capital in individual accounts of social insurance contributions payers will be increased twice in Azerbaijan

Baku. 30 September. REPORT.AZ/ Capital in individual accounts of payers of social insurance premiums in Azerbaijan will be doubled. Report informs, it was stated by the chairman of the State Social Protection Fund (SSPF), Elman Mehdiyev.

"Also, it is  planned to double pension capital accumulated to date as part of plans to increase twice gained so far of the pension capital.

The principle of binding assigned amount of the pension to the insurance capital will enable us to establish a higher pension. It also provides some incentives. The abolition of requirements for length against people who have accumulated enough capital due to the high amount of insurance premiums will be considered in the future.