The average monthly pension is being increased in Azerbaijan

The average monthly pension is being increased in Azerbaijan.

Qazet.az reports according to Report, this was reflected in the opinion of the Accounting Chamber on the budget of the State Social Protection Fund (DSMF) for 2023.

It was noted that according to the statistical report "Pension No. 1 form" on labor pensions, as of January 1 of the current year, the average monthly pension amount for the country was 331.8 manats, while in the first half of the year it was 36.2 manats or 10.9% increased to 368.0 manats, the increase occurred in all 3 types of pension.

In the first half of the current year, age pensions increased by 37.7 manats (10.4%), disability pensions by 31.8 manats (10.9%), and bereavement pensions by 29.8 manats (10.3%). , which happened at the expense of increasing the minimum pension amount, indexation of the insurance part of labor pensions, and payment of financial assistance to persons who were assigned labor pensions until January 1 of the current year. As the minimum pension amount was raised to a higher limit and the indexation of the insurance part of pensions was implemented in the first half of the year, a significant change in pension amounts was observed during this period. In the second half of the year, the average monthly pension amounts are predicted to increase with a low increase until the beginning of the next year, due to the fact that there are no circumstances that could cause a sharp change in the pension amounts.

Thus, at the beginning of the next year, against the background of the decrease of the average monthly pension due to age by 0.1 manat and the increase of the average monthly pension due to disability by 0.4 manat, the total average monthly pension is expected to increase by 1.4 manat and reach the limit of 369.4 manat, which means that the family due to the expected increase in the type of pension due to the loss of the head.

At the end of the next year, the average monthly pension amount is predicted to be 422 manats, an increase of 52.6 manats or 14.2% compared to the beginning of the year.