Azerbaijan spent 6.527 billion manats on pensions in January-October this year, up 608 million manats from the same period last year. Pensions were indexed by 9.3% from the start of the year.
Spending on pension payments in Azerbaijan continues to climb. According to official figures, pension expenditure in the first 10 months of this year reached 6 billion 527 million manats, 608 million manats, or 10%, more than in the same period last year.
Pensions were indexed by 9.3% from the start of the year. As of November 1, the average monthly pension stood at 596 manats, up a tenth from the corresponding period a year earlier. The average monthly payment for old-age pensioners came to 634 manats.
Digitalisation of the pension system also continued to advance. In January-October, 30,000 people had their pensions assigned electronically and proactively, without having to submit any application. Since 2019, when electronic pension assignment was introduced, a total of 208,000 pensions have been granted this way.
