Minister: Pension of 750 thousand pensioners to be raised from October 1

  • 11:02 01 August 2019

Minister: Pension of 750 thousand pensioners to be raised from October 1

"This year, two major packages of social reforms related to social development were adopted. The first of them, covers 3 million of our citizens, its annual need for financial resources is AZN 1.6 billion," Minister of Labor and Social Protection of the Population, Sahil Babayev said at a meeting on the socio-economic area chaired by President of the Republic of Azerbaijan Ilham Aliyev, ONA reports.

The minister noted that the social reform package has already been fully completed, in accordance with it, the salaries of pensioners and working citizens have been raised: "Salaries of 400 thousand citizens, in addition to public sector workers by 20-50 percent, the increase in pensions of 750 thousand pensioners from October 1 has been completed.”

Mr Babayev noted that the total cost of both packages in general for the current year is 2.3 billion manats, for the next year - 3 billion manats. They will cover 4.2 million people: “As a result of the wage increase almost doubled and the increase in the minimum pension by 72 percent, the minimum pension in Azerbaijan will be the first indicator of purchasing power in the CIS. The minimum wage will again become the second indicator of purchasing power in the CIS space. In addition, according to the instructions of the President, the work to increase the size of benefits and pensions covered a total of 1.3 million people, of whom more than 300 thousand are disabled, up to 500 thousand are displaced, more than 100 thousand are students and young people. In general, these allowances and scholarships covered the most socially vulnerable segment of the population, and their incomes were significantly increased. ”