Increasing the basic part of labor pension in accordance with the order signed Jan. 16 by the Azerbaijani President Ilham Aliyev, will cover 1,223 million retirees, said Elman Mehdiyev, Chairman of the State Social Protection Fund at the press conference Jan. 18.
About 140 million manats will be sent for financing the increase of the basic part of labor pensions before the end of the year, he said.
Under the presidential order, the basic part of labor pensions will be increased from February 1, 2016 to 110 manats.
He also noted that the increase will not affect 73,000 government employees, because the order of increasing their pensions differs from the conventional and is carried out in accordance with the Law on Labor Pensions.
Mehdiyev also added that increase by 10 manats will cover the pensions of those who receive 100 percent of the basic pension (1.169 million people), by 13 manats – pensions of those who receive 120 percent of the basic pension (17,000 people with the exception of the first group visually impaired people), as well as by 21 manats – pensions of those who receive 200 percent of the basic pension (8,700 people).
In addition, increase by 20 manats – up to 220 manat – will cover the basic part of pensions of the national heroes’ family members, and by 18.5 manats – up to 203.5 - the basic part of martyrs' families’ pensions.
Mehdiyev said that increase by 11 manats will cover the basic part of pensions of war participants (except for veterans of the Great Patriotic War - GPW), by 19 manats – the basic part of pensions of GPW participants, by 25 manats – GPW’s veterans, people with disabilities of the 1st group, by 21 manats – GPW’s veterans, people with disabilities of the 2nd group, by 19 manats – GPW’s veterans, people with disabilities of the 3rd group.
The official rate as of Jan. 18 was set as 1.5870 AZN/USD.
(Trend)
