By Trend

Work is underway in Azerbaijan in connection with the segment of voluntary pension savings. This project is being implemented jointly with the European Union and regulations are currently being discussed, Minister of Labor and Social Protection of the Population Sahil Babayev said, Trend reports.

He made the remark at a joint meeting of the Parliamentary committees for Law Policy and State-Building, for Defense, Security and Anti-Corruption, for Human Rights, for International and Inter-Parliamentary Relations during the discussion of the bill "On the state budget of the Republic of Azerbaijan for 2023".

According to him, voluntary pension provision does not replace mandatory pension provision, but is an addition to it.

The minister added that this year, for the first time, a consolidated audit report of the State Social Protection Fund and the Employment Agency was prepared.

"This report has been prepared by the lead auditors. Such reports will be prepared and published every year," he said.