“The new Order on the indexation of labor pensions signed by President Ilham Aliyev serves to continue the achievements made in the direction of strengthening the social protection of 1.1 million pensioners, who constitute an important part of the population.”
Publika.az reports that Deputy Minister of Labor and Social Protection of the Population Anar Karimov said these words at a press conference on indexation and increase of pensions according to the Decree of President Ilham Aliyev.
He added that 4 social reform packages were implemented in order to increase social payments in 2018-2023 with the decrees and orders of the President:
“For these reforms, which cover more than 4 million citizens, additional funds of 7 billion manats have been allocated annually. As a result of those reforms, the minimum wage increased by 2.7 times, the average monthly wage by 71.3 percent, the median wage by 2.2 times, the wage fund by 2.7 times, social benefits and pension payments by nearly 5 times, the average monthly amount of targeted assistance by 2.8 times increased. Also, in 2018-2023, the minimum pension has increased by 2.5 times, the average monthly pension by 2.1 times, and the average monthly pension by age by 2 times. Important steps have been taken to increase access to pension provision.
