Azerbaijan to adopt Germany’s experience when introducing actuarial settlement system in pension system

The Fund reports that the delegation composed heads and specialists of the SSPF Administration offices.

“The visit goal was study of Germany’s experience in the area of organization of actuarial settlements in one of the prestigious pension bodies of Europe – Pension Insurance Department of Germany,” it was informed.

When conducting actuarial settlements German specialists play the most important role.

“Despite actuarial surveys is a novelty for Azerbaijani economy, we stipulate introduction of this system for the first time. For this Germany’s experience will be taken as a basis,” the Fund says.

In the course of the visit the SSPF and German Pension Insurance Department signed an agreement in the area.

Azerbaijan’s State Programme of Pension & Insurance System Development for 2009-15 focuses on application of actuarial settlement.

/Azerbaijan Business Center/