On February 5, 2025, a briefing was held at the State Social Protection Fund under the Ministry of Labour and Social Protection of Population, regarding the indexation and increase of pensions, in accordance with President Ilham Aliyev’s decree.
Himalay Mamishov, the Chairman of the Fund’s Management Board, stated that as of January 1 of this year, the average monthly pension was 497 manat, with the average monthly pension for retirees being 530 manat.
As a result of the pension indexation and increases, the average monthly pension amount will rise from 497 manat to 537 manat, while the average monthly pension for retirees will increase from 530 manat to 573 manat, according to initial data.
Under the new decree, all pensions assigned until January 1, 2025, will be increased by 8,1% from January 1, 2024, based on the annual increase in the average monthly wage, as reported by the State Statistical Committee. The pension increases will be automatically implemented through the electronic system, without requiring pensioners to submit any documents or requests. The increases for January will be paid along with the February pensions.
The pension indexation applies to all pensioners, including military personnel, law enforcement officers, and others, totaling 1,1 million pensioners, with an additional 534 million manat allocated annually for these increases.
Additionally, in line with the decree, the pension capital recorded in the individual accounts of insured persons as of January 1, 2025, will be increased by 2,2% based on the annual consumer price index for the previous year.
As part of the new social reform package that began in January 2025, the minimum pension will be raised from 280 manat to 320 manat starting February 1. Further increases in allowances and scholarships are also expected in the coming months.
Himalay Mamishov also answered questions from media representatives.
