15:43 - 5.02.2024

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February 5, Fineko/abc.az. Labor pensions will be indexed.

ABC.AZ reports that Azerbaijani President Ilham Aliyev signed an order in this regard on Monday.

Under the decree, the Ministry of Labor & Social Protection of the Population should determine by January 1, 2024 with help of the State Statistics Committee for 2023:

in accordance with the annual growth rate of the average monthly nominal salary, the amount of the insurance part of labor pensions assigned before January 1, 2024, in respect of labor pensioners who were assigned superannuation allowances, together with these allowances, and material assistance included in labor pensions from January 1, 2023;

in accordance with the annual level of the consumer price index, index the amounts of pension capital registered before January 1, 2024 in the insurance part of the individual personal account of the insured person.

The Cabinet of Ministers has been instructed to resolve issues arising from this order.