Azernews.Az

Nazrin Abdul

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From February, the lowest pension in the country will increase to 320 manats (188.2 USD). Minimum pension recipients will receive the higher amount starting next month.

Azernews reports that MP and economist Vugar Bayramov shared this information on his social media account.

"Starting next month, both the minimum pension and labor pensions will be indexed. According to the decree 'On Continuing Measures to Improve the Social Welfare of the Population' signed by President Ilham Aliyev, the minimum pension will rise from 280 manats (164.7 USD) to 320 manats (188.2 USD) starting February 2025. This 14.3% increase will benefit minimum pensioners next month."

Bayramov explained that if a citizen currently receives a minimum pension of 280 manats (164.7 USD), it will increase by 14.3% in February, raising it to 320 manats (188.2 USD).

"The indexing of labor pensions is in accordance with the Law on 'Labor Pensions'. All types of labor pensions are indexed based on the percentage increase in the average monthly salary in the country from the previous year. According to the State Statistics Committee, the average monthly salary increased by 8% in the first 11 months of 2024, reaching 996.8 manats (586.3 USD), leading to an expected 8% increase in pensions."

Bayramov emphasized that all types of labor pensions, including old-age, disability, and bereavement pensions, will be indexed. Furthermore, pensions granted last year, including those on December 31, 2024, will also reflect the indexation based on the previous year's growth.

To summarize, minimum pension recipients will see a 14.3% increase, while labor pension recipients will receive an 8% increase due to indexation. The minimum pension will be 320 manats (188.2 USD) starting next month.