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ORDER OF THE PRESIDENT OF THE AZERBAIJAN REPUBLIC

of January 25, 2016 No. 1721

About indexation of insurance part of work pensions

(as amended of the Presidential decree of the Azerbaijan Republic of 06.09.2016 No. 1027)

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of strengthening of social protection of pensioners in the Azerbaijan Republic and according to article 29.2 of the Law of the Azerbaijan Republic "About work pensions" I decide:

1. Charge the Ministry of work and social protection of the population of the Azerbaijan Republic according to consumer price index by 2015 for January 1, 2016:

1.1. provide increase in insurance part of all types of work pensions;

1.2. perform indexation of the amounts of the pension capital which are saved up in insurance part of individual accounts in individual accounting system.

2. To the Cabinet of Ministers of the Azerbaijan Republic to resolve the issues following from this Order.

President of the Azerbaijan Republic

Ilham Aliyev

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