SSPF Deputy Chairman: 'Increase of insurance part of labor pensions will refer to 95% pensioners'

Baku. 26 January. REPORT.AZ/ 'In accordance with order 'On indexation of insurance part of labor pensions', signed by Azerbaijani President Ilham Aliyev, insurance part of all labor pensions will be indexed from January 1 this year according to consumer price index on 2015.'

Report informs, Deputy Chairman of State Social Protection Fund (SSPF) Zakir Babayev said in the press conference held on January 26.

He said that in accordance with the order, pension capitals, paid on insured and registered at their personal accounts will be indexed, too: 'Each month nearly 3,24 million manats of additional funds will be allocated for indexation of insurance part of labor pensions every month and 38,9 million manats every year. Increase of insurance part of labor pensions will refer to 95% pensioners. Indexation increase of insurance part of labor pensions and pension capitals, registered at personal accounts will be conducted in automated manner. Payment of February pensions will be carried out adding increase of base and insurance parts.'

Z.Babayev also spoke about order 'On increase of allowances issued to persons on partially paid social leave for child care': 'In accordance with the order, from February 1, amount of monthly allowance to persons on partially paid social leave for child care up to a year and half has been determined 40 manats, from a year and half to three years old 25 manats. During the year, number of people receiving allowance for child care under the age of 3 is nearly 48 thousand. 3,5 million manats additional funds will be allocated during the year for financing of such allowance increase. State Social Protection Fund will effectively carry out their duties on execution of both orders to strengthen social protection of population.