SSPF Chairman: Agreement process regarding establishment of private pension funds is underway

The legislative framework for the establishment of private pension funds in Azerbaijan is being improved and the process of agreement with relevant institutions is underway, Chairman of the State Social Protection Fund's (SSPF) Himalay Mamishov said at the briefing regarding the 6-month report of the institution, Report informs.

He noted that this issue is sensitive, as investments in this field are considered long-term:

"Therefore, regulation should be performed in this field on an appropriate basis. The legislative framework is being improved and the process of agreement with relevant institutions is underway. Finally, relevant documents will be sent to the Milli Majlis."