ORDER OF THE PRESIDENT OF THE AZERBAIJAN REPUBLIC

of November 4, 2014 No. 827

About approval "Concepts of reform of system of provision of pensions in the Azerbaijan Republic in 2014-2020"

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of accounting of the international tendencies of development in forming of system of provision of pensions in the Azerbaijan Republic and reductions of provision of pensions in compliance with constantly updated modern requirements, for the long-term period with use of experience of developed countries in this area I decide achievements of reliable social protection of pensioners:

1. Approve "The concept of reform of system of provision of pensions in the Azerbaijan Republic in 2014-2020" it (is applied).

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

2.1. exercise control over the implementation of the Concept noted regarding 1 this Order and to regularly inform on it the President of the Azerbaijan Republic;

2.2. resolve other issues following from this Order.

Approved by the Order of the President of the Azerbaijan Republic of November 4, 2014

The concept of reform of system of provision of pensions in the Azerbaijan Republic in 2014-2020

1. Introduction

The system of provision of pensions is one of the major and main directions of the policy of social protection performed by the state. In the first years of finding of independence because of poor development of national economy, shortage of financial resources there were difficulties in system of provision of pensions. Besides, serious discrepancy of the system of provision of pensions which was not relying on the social insurance which remained from Soviet period to market economy was the main and common problem for the Azerbaijan Republic.

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