Pension Increase for 502,000 Citizens in 2020

The Minister of Labor and Social Affairs, Zaruhi Batoyan, presented the reforms in the sector for the next year during a joint session of the National Assembly today. The budget for 2020 will amount to 495.5 billion drams, exceeding the 2019 figures by 10.8 percent, which means an increase of 47.98 billion drams.

Batoyan outlined the areas where these funds will be spent:
"These will be directed towards a 10 percent increase in pensions, where we plan to raise the minimum pension amount from 25,500 drams to 26,500 drams, and adjust the working and military pension amounts from 16,000 drams to 18,000 drams. Additionally, we will set the pension for each year of work experience at 950 drams instead of 800 drams. For pensions related to old age, disability, or loss of a breadwinner, we will establish an amount of 26,500 drams instead of 25,500 drams. It is expected that pensions for military retirees and working pensions will also increase," she enumerated.

Overall, pensions will rise for 502,000 people.
"Another sector that concerns citizens is the benefits system. A working group aimed at reforming this sector has been established at the level of the Prime Minister, and we will have new proposals for a reformed system by the end of the year, which we will discuss with the National Assembly," the Minister added.