In January- June of the current year, the amounts of funds allocated for financing of pensions and benefits have been increased by 3.4% to reach to AZN 1854,8 million in comparison to the related period of the previous year, State Statistic Committee told ONA.
97.7% of the amount was pension expenses. As of July 1, 2019, 1291,300 pensioners were registered with the State Social Protection Fund under the Ministry of Labor and Social Protection of Population, which are 13% of the Azerbaijani population. 58.4% of them receive pensions for age, 30.0% for disability, and 11.6% for loss of head of the family.
The average amount of appointed monthly pensions has increased by 6% to stand at AZN 232,3 in comparison to the same period of the previous year and were equal to 39,7% of the average monthly salary.
According to "On Amendments to the Law on Labor Pensions" on February 19, 2019, the minimum amount of pension has been set at 160 manats since March 1, 2019.