Pensions to Receive 5,000 Dram Monthly Refund for Card Purchases, Says Pashinyan

During today's government meeting, the draft law on "The State-Private Social Cooperation Initiative for Providing Refunds to Pensioners for Cashless Payments" was discussed. Minister of Labor and Social Affairs Narek Mkrtchyan, who presented the project, noted that starting from July 1, pensioners and beneficiaries using bank cards from partner banks will receive a refund of 10% of their total cashless transactions made at retail points or service providers across Armenia, to be credited to their accounts the following month.

"The refund amount cannot exceed 5,000 dram, regardless of the total amount of transactions conducted. Additionally, the refund will apply to utility payments made through ATMs of the bank that issued the pension card," the minister stated.

The refund initiative arises from a social responsibility partnership between the government and banks, where both entities contribute equally at 5%. By June 1, the Ministry of Social Affairs will publish a list of all banks that have joined this program. Citizens whose servicing banks are not on the list can apply to switch banks.

Prime Minister Nikol Pashinyan also mentioned that starting from July 1, every month, a refund of 5,000 dram will be credited to the pensioner's bank card. "We are launching this program on a trial basis for six months; we will analyze and understand any shortcomings for further improvements," he stated.

The Minister of Social Affairs added that currently there are over a thousand beneficiaries, and those who currently receive cash can also join the program by opting for cashless payments.