Today.Az » Business » Azerbaijan to fully automate pension calculation
30 December 2011 [16:49] - Today.Az
The State Social Protection
Fund (SSPF) of Azerbaijan
is planning to move to a fully automated calculation of pensions by September
2012, Foundation chairman Salim Muslimov said at a press conference held at the
headquarters of the New Azerbaijan party.
"It is the Fund's main
objective for 2012. We plan to complete the collection of information on the
insured in an individual registration system (today the number exceeds the
1.966 million people) by the September 1. Then no documents will be required to
calculate the pension as it will be calculated automatically," Mr Muslimov
said.
He said that one of the
innovations in 2012 will be the issuance of plastic cards to pensioners not
through stock offices, but directly by banks. The legal framework for
increasing the share of the insurance part of pensions and the creation of
private pension funds will be completed in 2012.
The number of retirees has
decreased since the beginning of the year due to the increasing retirement age.
There were 1.292 million pensioners in January 1, 1.279 million in October and
this year it is expected the number will reach 1.278 million on January 1,
2012.
"Our actuarial studies
show that the number of retirees will keep approximately at the same level of
1.28 million by 2020," Mr Muslimov said. He added that with the exception
of four areas, the pension is issued by means of plastic cards across the
country.
"Some 98.53 per cent
of pensioners receive a pension via plastic cards in the Aghdam region, 75.63
per cent in Yardimli, 80.59 per cent in Lerik and 97.27 per cent in
Tovuz," Mr Muslimov said.
The average amount of
pensions has increased today compared to the beginning of 2011 by 28.4 per cent
to 145 manat, including old age pensions up to 160 manat.
/Trend/
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