16:20 - 8.02.2022
February 8, Fineko/abc.az. President Ilham Aliyev has signed an order on additional measures in the field of social protection of retired workers.
ABC.AZ reports that MP and economist Vugar Bayramov stated about this, when commenting on the newly-signed presidential decree from 8 February 2022.
According to the MP, the size of the labor pension will be indexed to the average monthly amount in 2021, and the pension capital will be indexed to the level of annual inflation.
"Last year, the average monthly salary increased by 3.4%, and the official inflation rate was 6.7%. I would like to note that the increase without indexation applies to all types of labor pensions. In accordance with Article 4 of the Law on Labor Pensions, 3 types of labor pensions are defined. This is an old-age labor pension, a disability labor pension and survivor's labor pension. This means that if our citizen receives a labor pension, regardless of its type, he will receive an increase to his pension," Bayramov said.
