12:24 - 4.10.2023

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October 4, Fineko/abc.az. The increase in pensions in January of each year is carried out in accordance with the percentage increase in the average monthly salary for the previous year, ABC.AZ reports, quoting Vugar Bayramov, a member of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.

He noted that for the first 7 months of this year, the average monthly salary increased by 11.2%.

"Thus, it is expected that pensions will be indexed and increased by about 11%. Here speech is about increasing all types of labor pensions. In previous years, the labor pension of almost 100,000 citizens has not been increased. But now all pensions of citizens receiving labor pensions will be indexed and increased. The amount of increase will be different. Since the increase is calculated as a percentage, it will depend on the amount of the pension. For example, those who receive a pension of 1,000 manats will have an increase of more than 100 manats," the MP added.