Pensions in Azerbaijan will be calculated according to new formula

A new pension formula is to be introduced in Azerbaijan, Chairman of the State Social Protection Fund (SSPF), Elman Mehdiyev, said today. According to him, the fund has already started the development of appropriate amendments to the new formula.

"The draft amendment is currently at the stage of harmonization in the government. It implies strengthening of the financial stability of the pension insurance system, as well as enhanced retirement of citizens' safety in the country,'' abc.az cites Mehdiyev.