Pension Contribution Tax of 2.5% to Return to 5%

Citizens who join the pension system will pay their contribution not at 2.5%, as decided by the new government, but at 5% after 3-4 years.

This was announced today by Acting Deputy Minister of Finance Arman Poghosyan at the Ministry of Finance. The 5% contribution will be implemented when the current income tax rate of 23% is reduced to 20%.

It should be noted that the draft proposed to have citizens participating in the mandatory accumulation system and those joining from July 1 to accumulate 10% of their income, with a ratio of 2.5% and 7.5%. That is, 2.5% will be paid by the citizen and 7.5% by the state.