President Ilham Aliyev signed the Decree “On Indexation of Labor Pensions”.
Yeniavaz.com reports that information about the Order was disseminated by the Ministry of Labor and Social Protection of the Population.
According to the State Statistics Committee, from January 1, all pensions assigned by Decree before January 1, 2024 were increased by 11.2 percent by indexation in accordance with the annual growth rate of average monthly nominal wages for 2023.
“Increases are made automatically through the electronic system and retirees do not need to submit any documents or application for this,” the information says.
It should be noted that the minimum labor pension in Azerbaijan is 280 manats. Currently, recipients of the minimum pension from January 1 will receive a pension in the amount of 311 manats 36 kopecks. The January bonus (31.26 manats) will be paid along with the February pension.
According to the calculation, a pension of 300 manats will increase by 33 manats 60 kopecks, a pension of 350 manats will increase by 39 manats 20 kopecks, and a pension of 400 manats will increase by 44 manats 80 kopecks.

Elnur Ali