Pensions will be indexed in a few days. Indexed increase of pensions will be calculated from January and this month’s increase will be paid together with next month’s increase.
But will the pension amounts of those who retire in January of this year be increased?
Publika.az Vugar Bayramov, a member of the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis, said that according to the Law on “Labor Pensions”, all types of labor pensions are indexed to the percentage of the increase in the average monthly salary in the previous year:
“Last year’s final salary increase is expected to be close to 11.0 percent. In addition, some of our citizens retired in January and are already receiving pensions. According to the legislation, the pensions of all citizens who received the right to a pension last year, including December 31, 2023, will be increased as the indexation is adjusted to the indicator of the previous year. Thus, in accordance with the annual growth rate of the average monthly nominal salary, the insurance part of the labor pensions appointed until January 1, 2024 increases the amount determined together with those supplements in relation to labor pensioners who have been assigned supplements to the labor pension according to the length of service.
This means that the pension amounts of our pensioners who won pension rights in January will be indexed and increased at the beginning of next year. In general, the pension of our citizens who retired this year will be indexed in 2025. At that time, the increases will be carried out taking into account the percentage of the increase in the average monthly salary during this year. This year’s indexation will be applied to those who have the right to pension until January 1 of this year.”
Aysel Shahmar
#persons #increase #pension
.jpg?w=150&resize=150,150&ssl=1 "The spring session of the Milli Majlis starts tomorrow
- 2024-02-17 10:41:30")
