He noted that significant changes had been made to the legislation during the first stage, which allowed for an increase in pensions.
“Currently, we have a solidarity-accumulation system functioning, however, its accumulation part is only operating at the level of 2%. It is necessary to transition to a full-fledged solidarity-accumulation system. We plan to develop a roadmap until 2050. We will start with the youth so that in 20 years they can receive pensions based on this system. At the moment, we have no savings, and all earnings go towards pension payments,” Aliyev added.
