of May 17, 2011 No. 128-IVQD
About introduction of amendments to the Law of the Azerbaijan Republic "About work pensions"
Millie Majlis of the Azerbaijan Republic, being guided by Item 16 of part I of article 94 of the Constitution of the Azerbaijan Republic, decides:
In the Law of the Azerbaijan Republic "About work pensions" (Collection of the legislation of the Azerbaijan Republic, 2006, No. 3, Article 208, No. 12, Article 1019; 2007, No. 12, Article 1194; 2008, No. 4, Article 254, No. 6, Article 464, No. 7, Article 602, No. 8, Articles 699, 710; 2009, No. 6, Articles 395, 399, No. 11, Articles 877, 879; 2010, No. 7, Article 579; The Law of the Azerbaijan Republic of March 18, 2011, No. 94-IVQD) to make the following changes:
1. add with Articles 26.3-1 - 26.3-3 following of content: "26.3-1. Work pensions of persons who retired till January 1, 2006 (except for persons to whom allowances to work pension for office years of service according to article 20 of this Law are appointed), are subject to recalculation since July 01, 2011 with establishment of insurance part in the amount of 1, 94 manats for every year of the working years of service provided at the time of award of pension (and in case of incompleteness of year - to calculation of this amount it is proportional to the number of months of working years of service in incomplete year).
26.3-2. Concerning the persons who retired till January 1, 2006 and continued afterwards labor activity, insurance part is also established in the amount of 1, 94 manats for every year of working years of service during the period from the moment of purpose of pension it and till January 1, 2006 (and in case of incompleteness of year - to calculation of this amount it is proportional to the number of months of working years of service in incomplete year) and considered in case of recalculation of insurance part of their pensions since July 01, 2011.
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