In Azerbaijan, the pensions of these individuals will be increased twice

Starting from next month, pension increases will be implemented in two directions: the minimum pension will increase and labor pensions will be indexed. According to the order of Azerbaijan's President Ilham Aliyev "On continuing measures to improve the social welfare of the population," the minimum pension will be increased from 280 to 320 manats starting February this year. This was reported by Milli Majlis deputy and economist Vugar Bayramov on his social media page. He noted that the indexation of labor pensions will be carried out in accordance with the Law "On Labor Pensions": "According to this law, all types of labor pensions are indexed and increased in accordance with the percentage growth of the average monthly salary in the country for the previous year. According to the State Statistics Committee, during the first 11 months of 2024, the average monthly salary in the country increased by 8.0% and reached 996.8 manats. This means that the expected final salary growth in the country for the past year will be approximately 8.0%. Additionally, some citizens' pensions will be increased twice - their pensions will be both indexed and raised to the minimum pension level. For example, if a citizen became eligible for a labor pension before January 1, 2025, and their pension amount is 290 manats, which is less than the new minimum pension amount (320 manats), their pension will be indexed and increased by 23.2 manats. Although the indexation document is signed every year in February, it takes effect from January 1. From the beginning of the year, all labor pensions are indexed. However, in our example, the resulting amount - 313.2 manats - is less than the new minimum pension amount, so this figure will later be raised to 320 manats. Consequently, both indexation and direct increase will be applied to this citizen's pension."