In 2018, Funds Paid for Labor Pensions to Increase by 3.3%
2017 November 06 ( Monday ) 11:55:47
Baku / 05.11.17 / Turan: In 2018, 3 billion 407 million manat will be allocated for payment of labor pensions, 109 million manat or 3.3% more than expected for this year, the Accounting Chamber noted for the project budget of the State Social Protection Fund (SSPF).
In 2016, the volume of payments to labor pensioners amounted to 3 billion 42.8 million manat. Thus, for 2016-2018 the costs of pensions in Azerbaijan will grow by 364.1 million manat or 12%.
At present, the number of labor pensioners is 1 million 311 thousand people. The government predicts a decline in this indicator by 7 thousand next year.
It is also expected to reduce the payment of benefits to the population from the SSPF from 104.4 million manat to 88.1 million manat. 41.5 million manat will be allocated for the maintenance of the Fund"s administration, which is 19.5 million manat more than in 2016. -----08B