Azerbaijan Updates Rules for Recalculation of Labor Pensions

Baku: The procedure for granting labor pensions has been changed. Based on the amendments made by the Cabinet of Ministers to the ‘Rules for the granting, calculation, recalculation, transfer from one type to another, and payment of labor pensions,’ the recalculation of a labor pension will be carried out as follows:

According to Azeri-Press News Agency, for a working pensioner, recalculation will be based on the pension capital accumulated in the insurance portion of their individual account as of the date of application, effective from that date.

For a non-working pensioner, recalculation will be made from the day the person transitions into the non-working pensioner category, but payments will be made for no more than the three years preceding the date of application.

For individuals who receive or have had suspended an additional payment to their labor pension due to length of service at a rate of 50%, the recalculation of their labor pension based on their salary (state wage) will be carried out on the basis of an official certificate upon their dismissal from work.