Minimum pension amount set at 25,500 dram with retroactive effect

The government has proposed setting the minimum pension amount at 25,500 dram. This was stated by the Deputy Minister of Labor and Social Affairs, Smbat Sahakyan, during the discussion of amendments and additions to the Law of the Republic of Armenia on State Pensions in the National Assembly.

According to him, the initiative will affect 18,000 people. A recalculation will be made, and the difference for those who received a lower pension during these months in 2019 will be paid.

The Deputy Minister added that with this change, the extreme poverty line will be completely eliminated among pensioners in Armenia, as 25,500 dram is the threshold for extreme poverty.

“For all pensioners who have less than 12 years of employment experience, the increase will be 40-50 percent,” he said.