Azernews.Az

By Abdul Kerimkhanov

As of October 1, Azerbaijan ranks first among the CIS countries for the purchasing power of the minimum pension, Center for Analysis of Economic Reforms and Communication has told to local media.

Thus, the minimum pension level in the country was increased from 160 manats ($94) to 200 manats ($118) as of 1 October, according to the Law of Azerbaijan "On Amending the Law" On Labor Pensions ", approved by President Ilham Aliyev.

Increasing the minimum pension to 200 manats covers 660,000 pensioners.

This is the second time that Azerbaijan raised the minimum pension in 2019. Earlier, the minimum pension in the country was increased on March 1, 2019, from 116 manats ($68) (in some categories, the increase was 80 manats or $47) to 160 manats, which affected 233,000 citizens.

Thus, the minimum pension in Azerbaijan increased by 72.4 percent in 2019 as part of the presidential package of social reforms.

At the same time, the new minimum pension in Azerbaijan exceeded subsistence minimum for pensioners by 34.2 percent, set at 149 manats ($88) in 2019.

The increase in pensions for the second time in a row in such a short period of time can be regarded as one of the most important steps towards further strengthening social protection of citizens. At the same time, this shows that improving the population’s welfare is a priority for the government.

In the social reform package proposed by the head of state in 2019, which provides revolutionary steps to improve the welfare of the population, social protection of pensioners and raising pensions are of particular importance.

In accordance with the decree of the head of state of June 18, 2019, from September 1, wages were significantly increased for civil servants, the military, justice officials, law enforcement agencies, which made it possible to increase pensions by an average of 31 percent to another 94,000 pensioners, who in accordance with the legislation were assigned special payments.

Thus, the second social package provided by the head of state this year provided a significant increase in pensions for more than 750,000 citizens, which is another important step towards strengthening social protection of the population.

Raising the minimum pension will have a positive impact on the welfare of retirees, who are citizens most in need of social protection.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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