ECONOMY
UNDP article praises Azerbaijan`s pension system
Baku, January 26 (AZERTAC). The UN Development Programme`s magazine has hailed Azerbaijan`s pension reforms in an article released in its New York-based magazine.
The article, titled “Azerbaijan: pension system of the 21st century”, features a detailed analysis of the reforms held in the country`s pension and insurance system.
The article praised the Azerbaijani government`s efforts to strengthen the social security of low-income families.
"As a result of these reforms Azerbaijan now has one of the most modern pension systems.”
The article said pensions in Azerbaijan saw a considerable increase over the last few years, adding the country was among leaders in the Commonwealth of Independent States in terms of the size of pensions.
The UNDP article also hailed the Azerbaijani government`s applying advance communication and information technologies in the pension and insurance system.
The article stressed the importance of the Azerbaijan State Social Protection Fund `s winning the “Effective Management through applying Information Communication Technologies” nomination of the International Social Security Association.
The UNDP said Azerbaijan`s pension and insurance system could be exemplary to other countries.
The article also lauds the Azerbaijani government`s work to maintain sustainable economic development, reduce poverty level and strengthen the social security of the population.