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Bağla

Number of Retirees to Decrease in 2018
Economics 


2017 November 03 ( Friday )  12:28:19
Print version
Русский Azərbaycan

Baku / 03.11.17 / Turan: In 2018, the Azerbaijani government forecasts a decrease in the total number of labor pensioners from 1 million 311 thousand to 1 million 304.1 thousand people. Since July of this year in Azerbaijan pension reform has been launched, according to which the retirement age is raised twice a year, both for men and women.

In the previous year, in Azerbaijan, 1 million 315.2 thousand people were paid labor pensions. Of these, 781.9 thousand received pensions by age. In 2018, such pensioners will be 760.2 thousand people. The remaining pensioners will receive disability pensions (384.1 thousand - 2017) and for the loss of the head of the family (158.3 thousand in 2017), the Accounts Chamber noted on the draft budget of the State Social Protection Fund for 2018.

According to government forecasts, in 2018 the average monthly amount of labor pensions will be 216.6 manat (127 US dollars), 3.6% more than this year. At the same time, the subsistence minimum for pensioners will be AZN 144 or $ 84.

The retirement age for men will be brought to 65 years by July 2021. The retirement age for women will also grow at this rate and until July 2027 they will be equal. More than 50% of the members of the Cabinet of Ministers of Azerbaijan are persons above the retirement age, but so far none of them is going to retire. ---08B