Azerbaijani pensioners will receive increased pensions from February.
Today, the Head of the republic, Ilham Aliyev, signed a decree on indexation and increase of pension payments by 11.2%. Information about this was announced by the Ministry of Labour and Social Protection of the Population of the Republic of Azerbaijan.
It is clarified that the increase and indexation also affected the pensions, which included bonuses for length of service and financial assistance from January 2023.
According to the Ministry, there is no need to submit any documents. The increase in payments occurs automatically through the electronic system.
Pensioners will receive the additional payment for January in February.
In total, pension payments were increased for 1.1 million citizens. The authorities plan to spend about 630 million manats during the year, that is, more than $370 million.
Thus, pensions will exceed the average inflation rate by 8.8%.
