The work on draft law over setting private pension system is continued, Azerbaijan’s Central Bank told APA-Economics as a reply to its survey.
It has been noted that international experiences, as well as the experiences of Romania, Poland, France, Croatia, Türkiye, and several other countries, have been learned by The Ministry of Labour and Social Protection of the Population and preliminary legislative projects related to pension funds’ operations have been prepared on this basis.
It also said that interinstitutional discussions are being made with the participation of the Central bank to set up an effective pension system in the country and carry out the work promptly. At the same time, to contribute to managing the abovementioned goal representatives of state institutions, the Central Bank, and the Azerbaijan Insurance Association are mutually operating.
The work in the direction of several issues coming from the Strategy as well as improving the preliminary legislative projects is being continued at the moment.
