AZ

Azerbaijan prepares proposals to increase minimum wage and pension - minister

BAKU, Azerbaijan, October 1. Under the
directives from Azerbaijan’s President, an increase in the minimum
wage and minimum pension will be implemented across the country
starting next year, Minister of Labour and Social Protection of the
Population of the Republic of Azerbaijan Sahil Babayev said at the
ministry's board meeting, Trend reports.
Information was presented regarding efforts to enhance the
regulatory legal framework in the areas of labor, pensions,
disability, and other sectors as part of ongoing social reforms. It
was noted that over 20 draft regulatory acts have been prepared
related to the establishment of private pension funds.
Currently, a proactive approach is being taken to assign 52
types of benefits and pensions, with continued efforts to enhance
the complexity of the mechanism for proactive assignment of social
payments.
The minister emphasized that the ministry is conducting final
medical examinations for citizens called to active military service
using digital solutions.
Additionally, it was highlighted that during the past period,
free funds from the State Social Protection Fund and the
Unemployment Insurance Fund have been successfully invested in
financial instruments, with the resulting income strengthening the
social protection system.



The meeting also approved 26 professional and qualification
standards in the fields of electrical engineering, trade, and
mining.
Discussions included the work accomplished and upcoming tasks in
employment, social insurance, pensions, disability, and social
welfare, among other areas.

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