ISSA: Azerbaijan’s pension system one of the best in the world

By Trend

The pension system of Azerbaijan is one of the best in the world, Joachim Breuer, President of International Social Security Association (ISSA,) said at the ISSA Regional Social Security Forum for Europe held in Baku, Trend reports.

"The automated assignment of pensions is practiced in some countries of the world, but Azerbaijan is one of the countries where this system is executed at a high level," he said.

The pension is assigned under an automated system on the day when the right for obtaining the pension comes into effect. One of the citizen’s contacts recorded in the system receives, via SMS, information on the assignment and amount of the pension, the bank and the date of receipt of the pension cards. The citizens' direct appeal, their physical participation in the process of the granting of the pension, and the provision of any documents are not required. Moreover, if a pension capital (regardless of the amount) was fixed by July 1, 2018 on the personal account of persons who had been employed prior to January 1, 2006 and had reached the age of receiving a labor pension in 2019–2020, then a 25-year work experience will be recorded when they receive the labor pension.