The average monthly pension in Azerbaijan as of October 1 increased by 8.4% YoY, reaching 221.1 manats, the Ministry of Labor and Social Protection of Population of Azerbaijan said in a message.
The average monthly old-age pension increased by 9%, to 249.1 manats over the same period. Funds allocated for pensions were 7.6% or 186.9 million manats more than in the first nine months of 2017.
There are over 1.3 million people of retirement age in Azerbaijan, which is 13.2% of the total population of the country. Some 58.5% of pensioners receive an old-age pension, 11.5% – a pension due to the loss of a family member, and the rest – a disability pension. (Trend/Business World Magazine)
