Starting today, the retirement age for women in Azerbaijan has reached 65, aligning with the threshold for men. The Operative Information Center-OMM notes that the retirement age for men reached this level on June 30, 2021.
It should be noted that under Article 7 of the Law "On Labor Pensions," the retirement age threshold for men was increased by six months annually from July 1, 2017, to July 1, 2021. Similarly, the age threshold for women has been undergoing a gradual increase of six months annually, starting from July 1, 2017, and concluding on July 1, 2027, though the target age of 65 has now been reached.
According to the legislation, individuals are entitled to an old-age pension if the pension capital recorded in the insurance part of their personal account allows for a pension not less than the minimum pension amount, regardless of insurance length. If the capital is insufficient, the individual must have at least 25 years of insurance service to qualify. The current minimum pension in Azerbaijan is 320 manats, and old-age pensions are granted for life.
This adjustment is part of broader pension reforms in Azerbaijan aimed at ensuring the long-term sustainability of the social security system. By gradually equalizing the retirement age, the government seeks to balance demographic shifts with the financial stability of the State Social Protection Fund, ensuring that the pension system remains robust for future generations.
