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Economy / 22.12.2008 12:07 More money on pensions next year
2009 budget of State Social Protection Fund is 26 percent more than that of this year.
The State Social Protection Fund of Azerbaijan is planning to allocate about 93.5 percent of its expanses or AZN 1,660 billion on pensions next year. According to Public Relations Department of the Fund, about AZN 1,210 billion of it will be directed at base part of the pensions (AZN 237 million or 24.4 percent more as compared to this year’s figures) and some AZN 450 million on insurance portion which is AZN 112 million or 33.1 percent more than that of this year. Insurance portion of the pension constitute 27.1 percent in total pension expanses. 2009 budget of the fund is predicted at AZN 1, 775 billion (USD 2,1947 billion) which is AZN 370 million or 26.3 percent more as compared to that of this year. The fund officials say that they will focus mainly on accumulation of compulsory social insurance payments. /ANS PRESS/
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