International Social Security Association: "Azerbaijan's lesson in pension and social insurance useful for many countries"

He was briefed about the activities in pension and social insurance sector in Azerbaijan at the meeting held by the State Social Protection Fund of Azerbaijan, APA reports.

SSPFA Chairman, Salim Muslumov, said that Azerbaijan shortly gained achievements in this sector and reforms became fruitful.

"In Azerbaijan average annual development rate was 25% to 26% during the last three years, and 35% in 2006. Pension benefits were doubled to $40 in this period. In the near two years this amount will exceed the subsistence minimum," he said, adding Azerbaijan is keen on cooperating with the ISSA.

Corazon de la Paz said that Azerbaijan’s activities in poverty reduction are praiseworthy.

"Azerbaijan is seriously working on the economic development and poverty reduction. We are ready to render assistance. Today some countries can learn from Azerbaijan’s lesson in pension and social insurance sector. Attraction of people to social insurance maximally is among the issues I am going to discuss with Azerbaijan. We are ready to give support," he said.

The ISSA President will have meetings at the Cabinet, Milli Majlis and President's Office.

Azerbaijan became a full member of the ISSA in May, 2004.