Retirement Planning Awards 2023

Nov22526 Retirement Planning Awards 2023 Wealth & Finance Feb23304 Excellence Award in Social Security Reform 2023 Social Security benefits guarantee a partial replacement income for qualified retired adults. It is a crucial arm of the government and support of the population and, with different laws throughout varied countries, it is a uniting factor of the human experience under a government. As a vital part of the retirement planning strategy of people around the world, this is no different for the people of Azerbaijan. State Social Protection Fund of Azerbaijan (SSPF) is a legal person of public law operating in the field of compulsory state social insurance and voluntary social insurance. Understanding the centralisation of social security governance in Azerbaijan The centralisation policy came into act in 2020, with the sole aim to increase citizen satisfaction and wellbeing. SSPF ensures that business processes in social security can be more streamlined and effective, so as to grant access to legal services that would otherwise be left to the wayside. “The centralisation policy allowed citizens to clarify their information on the basis of their access to social benefits on the principle of onestop-shop as an individual approach through e-services, created a basis to make the social benefit assignment targeted, as well as more efficient and transparent.” Efficiency, transparency, and, of course, humanitarian qualities are the foundation of social security. It is of utmost importance that the population of Azerbaijan receive the support that it now does, through the form of SSPF’s work. What SSPF does After the collapse of the USSR, the social security issues that Azerbaijan experienced were sweeping before the centralisation policy. SSPF provides a clear strategy to conquer issues with citizens’ difficulties with obtaining relevant documents and information on social benefits, incorrect, forged documents and fraud, unfair or incorrect assignments of social benefits, such as pensions and allowances, and more. SSPF promises a transition between officer and citizen to increase citizen satisfaction and welfare, proactive and accurate circulation and assignment of social benefits, recalculation and fair assignments of benefits, improving the decision-making for international standards and participation in the ISSA Recognition Programme, and more. SSPF as a member of ISSA ISSA, or the International Social Security Association, is an international organisation which unites national social security administrations and agencies to commit to further developments in line with basic human rights – as well as the upkeep of a satisfied population. SSPF responds to its social and economic responsibilities with pride and competence, so that the people of Azerbaijan can thrive. SSPF and the reduction of poverty and economic problems As the social insurance system includes pensions, unemployment benefits, health insurance, and other social benefits, SSPF offers an avenue for citizens to feel safe, secure, and treated fairly – in accordance with what is right. With a respectful treatment of all citizens, the centralisation policy creates a common vision, trust, and cooperation, which ensures efficient, sustainable, and transparent activities and services. This also strengthens the population and creates opportunities for people to thrive. What SSPF covers SSPF helps to manage compulsory state social insurance, labour pensions, targeted state social assistance, social benefits, grants and compensations, state mandatory personal insurance, and voluntary social insurance. It uses digitalisation to render most of its services electronically and online – ensuring more people can access its services with ease, and from any location within Azerbaijan. The statistics As of the 31st of July 2022, 802,000 people were provided with social benefits grants, and 3,823,000,000 in social payments, alongside 171,000 pensions, allowances, and grants were proactively assigned. With regards to pensions, in 2022, due to the indexation policy and financial aid, pensions were increased by 11%. All of this means that the population of Azerbaijan benefitted from the fund more than in the years gone before. For the future The growth of SSPF, especially for 2023, means that it is more able to strengthen the social protection of the entire Azerbaijan population. This year is looking to be a fantastic year for the overall wellbeing of the populace of Azerbaijan, and it is due to the structure and compassion which resides in SSPF. Receiving the Excellence Award in Social Security Reform 2023, State Social Protection Fund of Azerbaijan has been recognised for its dedication and commitment to the population of Azerbaijan. Contact: Fahmin Hajizada Company: State Social Protection Fund of Azerbaijan Web Address: The State Social Protection Fund of Azerbaijan (SSPF) fund operates under the auspices of the Ministry of Labour and Social Protection of the Republic of Azerbaijan. In other words, this fund acts as a buttress for the population through providing labour pensions, social benefits, targeted state social allowance, grants, compensations, and much more. Here we learn more as it is recognised in the Retirement Planning Awards 2023.