Hungary supports Azerbaijan’s conservative attitude towards the beginning of the application of accumulative component of the pension insurance system.

The State Social Protection Fund informs that Fund’s head Salim Muslimov received director general of the Central Administration of National Pension Insurance of Hungary Jozsef Meszaros.

“In 1998 Hungary introduced a storage component and abolished it in 2011 because of the problems that have emerged in the international experience in this regard, and so we consider Azerbaijan’s conservative attitude to this component is true,” Mr. Meszaros said.

Also, during the meeting the sides discussed the reforms and achievements of Azerbaijan in the field of social security, establishment of private pension funds, development of bilateral relations with the Central Administration of National Pension Insurance, and the possibility of signing an intergovernmental agreement on cooperation in the field of social security and pensions.


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