Revenues of State Social Protection Fund of Azerbaijan rose 8.7 percent in first half of year

Revenues of the State Social Protection Fund of Azerbaijan for the first half of year amounted to 824.7 million manat, which is 65.8 million manat or 8.7 percent more compared to the same period of last year, the Chairman of the Fund Salim Muslimov said.

"During this period, the incomes from fees on obligatory state social insurance of individuals engaged in business increased by 6.7 percent compared to the same period of the last year. The income for the same fees from the owners of lands increased by 90.7 percent compared to the same period of the last year. During this period, the Fund's expenses amounted to 802.4 million manat. During the reporting period, 96.8 percent of total expenditure or 777.1 million manat was allocated to finance the pensions and allowances," said Muslimov.

During the reporting period, the process of creating a system of individual registration of insured persons was created. Over six months, State Social Protection Fund opened individual personal accounts for 92,286 insured persons. As a result, according to statistics as of July 1, the number of insured persons in Azerbaijan, who have individual personal accounts, has reached 1,732,215 persons.

According to Muslimov, measures were toughened to provide pension plastic cards to rural pensioners. Currently 100 percent of urban pensioners and 96.7 percent of rural pensioners and totally 98.4 percent of all pensioners receive pension through plastic cards.

The average salary in Azerbaijan totals $400. The average pension is approximately $130.


/Trend/