After this indexation, the full minimum old-age pension (which means a period of insurance not less than 35 years), for persons who were entitled to have a pension until 31 December 2014, the amount can not be less than 13,753 ALL per month from the previous amount which was 13,378 ALL, whereas the maximum pension can not be more than double the minimum pension or 27,506 ALL per month from the previous amount which was 26,757 ALL. Meanwhile, for defined pensions starting from 01.01.2015 onwards, the minimum income (which implies a period of insurance not less than 15 years, according to the new formula for calculating pensions), can not be less than the social pension amount, which from 7,262 ALL is 7,465 ALL per month, while the maximum income depends on the salary and duration of the insurance period and consequently there is no limit on their height.

The categories that benefit from this indexation are all types of pensions that are paid by social insurance such as old-age, invalidity, survivor, social pensions, supplementary pensions, special treatments and early retirement pensions. Approximately 665,000 pensioners will benefit from this decision. The financial impact of this indexation for this year is 2 billion and 39 million ALL or about 22 million dollars.

The indexation of pensions is a legal obligation aiming the compensation for the consequences of goods’ price change and several services regarding the minimum living standards of pensioners. This index is calculated by INSTAT for a certain basket of goods and services consumed by pensioners.

The Regional Social Security Forum for Europe took place in Baku, Azerbaijan from 14 to 16 May 2019 whose focus was centered on the discussions about the good practices implemented by each member state, to improve the service in the field of social security.

Focusing on the service improvement toward the social security scheme users, the International Social Security Association (ISSA) not only assessed the countries that had managed to create applications and services that facilitate scheme users across Europe, but also organized panels for discussion.

Part of one of the panels was nominated as a moderator Mr. Astrit Hado, Director General of the Social Insurance Institute.

In this panel, representatives of Germany, France, Finland and Latvia presented to the participants new approaches in the field of communication with the citizens of their countries regarding social security schemes.

Through his speech, Mr. Hado emphasized that changing the way of communicating with citizens about the social security scheme is the first step to bring them closer to this scheme so that the benefit they will have from it, will be the maximum and in accordance with what the relevant legislation provides to them.