As of today, the retirement age for women in Azerbaijan has been equalized with that of men, reaching 65.
This change is the final step in a phased increase implemented in accordance with Article 7 of the "On Labor Pensions" law. According to the law, the age limit for women was increased by six months each year starting from July 1, 2017, until July 1, 2027. For men, the process of increasing the retirement age to 65 covered the years 2017-2021.
It should be recalled that the retirement age was last set at 64 years and 6 months, and this indicator was valid until June 30, 2026.
According to legislation, several conditions are stipulated for the right to an old-age labor pension. If the pension capital in the insurance part of an individual's account, who has reached retirement age, allows for a provision not less than the minimum labor pension amount, a pension is assigned regardless of the insurance period. Otherwise, a minimum of 25 years of insurance period is required. This rule does not apply to persons whose pensions were assigned before July 1, 2017.
The amount of the pension is determined based on the pension capital accumulated in the individual account. Currently, the minimum pension amount is 320 manats. The labor pension assigned by age is granted for life.