Khady Rajabli, the head of the Azerbaijani parliamentary committee for social policy, said today that the republic has prepared documents to organize private pension funds, Trend reports.
The funds will have the following advantages: improvement of competition on the insurance market, payment of pensions according to compulsory state social insurance, insurance payments will be added to pensions.
Private pension funds operate using the income of the population, organizing the turnover of finances of social insurance paid to citizens, gaining additional resources to make pensions grow.
