PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of August 4, 2003 No. 908

About measures for enhancement of the public pension system in the Azerbaijan Republic

According to the Concept of pension reform of the Azerbaijan Republic, for the purpose of acceleration of reform of system of the national social insurance in the country and enhancements of management of it, I decide creations of the single public pension system on establishment and financing of the pensions and benefits added to pensions:

1. Transfer functions of local authorities of the Ministry of Labour and Social Protection of the population of the Azerbaijan Republic to destination, to financing and control of pension payment and the benefits added to pensions together with the corresponding material and technical resources and established posts providing their realization, to the State Social Security Fund of the Azerbaijan Republic and to complete this work till October 1, 2003.

2. Organize the financial payment system having independent bank accounts in the State Social Security Fund of the Azerbaijan Republic, concentrate in this system of means on compulsory national social insurance and for financing at the expense of the government budget of the pensions and benefits added to pension.

3. Ceased to be valid.

4. Charge to the Cabinet of Ministers of the Azerbaijan Republic:

* according to this Decree to submit within two-month term to the President of the Azerbaijan Republic offers on modification and amendments in the existing legal acts;

* in the course of forming of drafts of the government budget of the Azerbaijan Republic and the budget of the State Social Security Fund of the Azerbaijan Republic for the next years to provide accounting in the budget of fund of means for all types of the pensions and benefits added to pensions which financing is performed at the expense of the government budget, and reflection in their separate lines in the income and expenses;

* together with the State Social Security Fund of the Azerbaijan Republic and other relevant state bodies in two-month time to perform the necessary actions connected with execution of Items 1 and 2 of this Decree;

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