WAYS TO SOLVE PROBLEMS IN THE PENSION SYSTEM OF AZERBAIJAN

The purpose of the research is to analyze the reforms carried out in the system of the State Social Defence Fund, which are aimed at providing pensioners with a decent pension, attracting uninsured citizens to social insurance and replenishing the funds missing in the budget of the State Social Defence Fund.

The methodology of the research consists of assessing the current state of the pension system based on the analysis of statistical data.

The practical importance of the research - the article may serve as a theoretical basis for further research in the area under consideration, and the proposals put forward in this article may be implemented in the practical activities of the State Social Defence Fund.

The results of the research consist of proposals for improving the mechanism for collecting social insurance contributions.

The originality and scientific novelty of the research is that the work for the first time proposes to abandon the approach that interprets the balanced functioning of the labor market as achieving equality between the demand for labor and its supply. It is indicated that for the functioning of the national labor market with the degree of efficiency required by society, it is necessary to increase the state's attention to stabilizing the development of both the socio-economic system of society as a whole and its constituent elements.

Keywords: funded pension system, pension provision system, pension indexation, social contributions, number of pensioners, transfers from the state budget, life expectancy, level of wages.

http://doi.org/10.59610/bbu2.2024.2.2