News
Ratio of pension substitution in Azerbaijan reached 45%
As of 1 July 2014 the average labor pension in Azerbaijan will be 172.7 manat and old-age pension - 190.9 manat.
State Social Protection Fund’s chair Elman Mehdiyev says that base amount of labor pension in the country is 100 manat.
"The substitution ratio (the ratio of pension size to wage amount) for this period made up 45%, thus providing excess of poverty level (for seniors) by average monthly pension in the country by 1.7 times," Mehdiyev said.