State Duma ratifies pension agreement between Russia and Azerbaijan

© Photo: Maria Novoselova / Vestnik Kavkaza

According to the website of the State Duma, the pension agreement between Russia and Azerbaijan has been ratified by the lower house of the Federal Assembly today.

The Agreement on cooperation in the field of pension provision describes how pension rights to social insurance of Russians and Azerbaijanis, as well as members of their families, which were received by them in Azerbaijan and Russia, respectively, should be recognized and protected. The document also concerns other social insurance rights.

Thus, the citizens of Azerbaijan will not lose the length of service gained at work in Russia when calculating a pension. The Russians will be able to take advantage of the experience gained in Azerbaijan.

Another innovation is that the Russian Federation and Azerbaijan will be able not only to pay pensions in the state that assigned them, but also, in the event of a move, to transfer the money to the corresponding country.

On the pension agreement between Russia and Azerbaijan
The agreement on cooperation in the field of pensions was signed in Baku on April 26 last year. It happened during a meeting of the intergovernmental commission on economic cooperation. The document was signed by the Deputy Prime Ministers of both countries - Alexey Overchuk and Shahin Mustafayev.

Some time later, on July 30 last year, the agreement was approved by the President of Azerbaijan.

The agreement was submitted for ratification to the State Duma on February 22 this year. Now it must be approved by the Federation Council. At the final stage, the document will be sent to the President of the Russian Federation, after which it will be officially published.

The Agreement on Pension Cooperation between Moscow and Baku replaced the Agreement on Guarantees of the Rights of Citizens of the CIS Countries in the Field of Pensions. Vladimir Putin signed the law on its denunciation on June 11 last year, the agreement expired on June 30.

© Photo :© Photo: Maria Novoselova / Vestnik Kavkaza