Azerbaijan may revise retirement age

Azerbaijan, Baku, Feb. 10 / Trend A.Akhundov / If the current parameters remain, the load on the pension insurance system in Azerbaijan will increase, head of the State Fund for Social Protection Chairman Salim Muslimov told reporters on Friday. "If the system continues to work like it works today, then taking into account demographic and other issues, the load on the system and the deficit will grow rapidly," Muslimov said. He said to avoid this certain measures should be taken, including revising legislation. "It can be avoided if we keep the current ratio of offset at 40 percent, that is, if the pension does not increase with an increase in salary. But, of course, you can not do that. We will try to keep this ratio at the current level, so the rate of wage growth does not exceed the growth of pensions," he said. Do you have any feedback? Contact our journalist at agency@trend.az