Comment on new order: Increase to be 5.6% for recipients of pension of 300 manats

16:28 - 8.02.2022


February 8, Fineko/abc.az. The president-signed document on additional measures in the field of social protection of labor pensioners envisages assistance to labor pensioners during the year and is an important step in strengthening the social security of these citizens.

ABC.AZ reports that this was informed by expert Vugar Bayramov.

He noted that these finances will be paid to pensioners, divided into quarters, and the initial payment will be made together with pensions for February.

"At that, the increase in indexation provided for January will be paid together with the pension for February. The assistance provided by the last order will affect the increase in the size of pensions of our citizens receiving an average pension. Thus, 250 manats means a monthly increase to the pension of about 17 manats on average (200 manats/12). This means an increase of 6.6% in the pension of a citizen receiving a pension of 250 manats (17 manats/250 manats x 100.0%). Taking into account the indexation rate, this means that the pension of our citizen receiving a pension of 250 manats will increase by 10.0% (6.6% +3.4%) according to the last order. The provided assistance means an increase of 5.6% in the amount of the pension of a citizen receiving a pension of 300 manat (17 manat /300 manat x 100.0%). Taking into account the indexation percentage, this is an increase of 9.0% (5.6% + 3.4%) in the pension size of our citizen receiving a pension of 300 manats," the MP noted.