Funds to be spent on pensions and benefits announced

AZN 5 billion 907 million will be allocated to finance labor pensions, which is AZN 650 million more than this year, and AZN 170 million will be allocated to benefits paid from funds received from mandatory state social insurance payments , APA reports. The Minister of Labor said this during the discussion of the draft law “On the State Budget of the Republic of Azerbaijan for 2023” at a joint meeting of the parliamentary committees for youth and sports, labor and social policy, agrarian policy, regional issues and natural resources, energy and ecology. and social protection of the population Sahil Babayev.

The minister said that this year the average monthly labor pension is 371 manats, and the average monthly labor pension by age is 400 manats, and noted that the average monthly labor pension predicted next year will exceed 420 manats.

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