The connection between the pension amount and the subsistence allowance for military personnel will be eliminated; pensions will be determined by calculating the pension capital registered in the individual personal account, as well as a fixed monthly pension supplement.
“Elchi” reports that this is reflected in the draft law on amendments to the laws of the Republic of Azerbaijan “On the Tax Code”, “On the Status of Military Personnel”, “On Police”, “On Service in Customs Bodies”, “On the Approval of the Regulations on Service in the Prosecutor’s Office”, “On Service in the Internal Affairs Bodies of the Republic of Azerbaijan”, “On Intelligence and Counter-Intelligence Activities”, “On Service in the Judiciary”, “On the Approval of the Regulations on Service in Migration Bodies” and “On Service in Emergency Management Bodies”.
The age limit for service for each rank will be determined as the retirement age for that rank.
With the strengthening of the insurance mechanism, pensions will be determined and paid to them on general grounds based on the pension capital registered in the individual personal account.
At the same time, in addition to the pension amount, a fixed monthly pension supplement will be determined, not an additional supplement for length of service to the labor pension provided for in the current legislation.
It was noted that this reform will stimulate military personnel to stay in service longer, and as they serve more, their positions and ranks, and consequently their salaries, as well as their pension capital, will increase, creating an opportunity for higher pensions in the future. The reform will allow for a significant simplification of the pension determination system for military personnel, and their pensions will be determined electronically in a short time without going to any address.
The amount of the monthly pension supplement will be determined by military ranks.
After discussions, the issue was put to a vote and adopted in the first reading.