Ministry: Roadmap developed for five-year period on development of pension system

Baku. 6 February. REPORT.AZ/ A roadmap is developed for the next five-year period of reforms and steps to be taken at the Ministry of Labor and Social Protection.

Report informs citing the department of Ministry of Public Relations and Communications that a working group is functioning at the Ministry to prepare relevant proposals for this purpose, and international experts have also been involved in this work. "One of the reforms implemented under the instruction of President Ilham Aliyev is designed to continue the growth of the minimum and medium pensions within the framework of developing pension system."

According to the Ministry, there are 1.3 million pensioners in the country. 58.3% of those people receive pensions for age, 30.1 percent for disability and 11.6 percent for the death of family head. Last year, a 6.8 % increase was observed in the amount of average monthly labor pensions, while this figure was 7.3 percent in pensions for age.