How Pensioners Will Receive Their Due Refunds

The newspaper "Pasts" reports that, as is known, according to the government's decision, starting from July 1, pensioners and benefit recipients can receive a 10% refund the following month on the total amount of transactions made in cashless form. This announcement was made with great formality during a government session, although it was still unclear at that time how many banks would actually participate in the program.

Currently, only three banks are involved in the program. The decision has been in effect for about seven days, and citizens are already expressing uncertainties and concerns. In recent days, the newspaper "Pasts" has received calls from pensioners and benefit recipients. They are particularly concerned about the fact that those who want to participate in the program will have to become customers of a different bank, which, according to some, is not a desirable option and creates additional inconveniences.

Moreover, during our conversation, they indicated that they have not received clear responses from any institution and do not know what to do in this situation.

To understand the ongoing process regarding the banks’ participation in the program, we tried to find out whether other banks are planning to join the program, and what pensioners and benefit recipients can expect in this regard. The Public Relations Department of the Central Bank informed us that currently, three banks have joined the program. The Central Bank has also stated that the Ministry of Labor and Social Affairs has noted that this list will be updated regularly according to changes in the list of partner banks.

Regarding what pensioners and benefit recipients should do in this case, they mentioned that the matter does not pertain to the Central Bank of Armenia and suggested contacting the ministry.

Zara Manucharyan, spokesperson for the Minister of Labor and Social Affairs, also emphasized during our conversation that currently, three banks have joined the program. “As we have previously informed citizens, the state, through the ministry, is willing to collaborate with all other banks as long as they are also willing to participate. The fact that the program started on July 1, and that there are currently three collaborating banks, does not mean that this list will not continue to be filled. At any time, if another bank is interested in participating in the public-private partnership, the ministry is ready to include them in this collaboration,” she noted.

Regarding all those citizens who are customers of another bank, we have notified them in advance and continue to notify that at any moment, if they wish to change the organization that provides their pension or benefits, they can approach the territorial center of the Unified Social Service and become a customer of another bank within a few days.

In response to the query about what happens if someone does not wish to change banks, will they have to wait until other banks either join or do not join the program, Manucharyan replied, “That seems to be the case, as the alternative option is that. However, citizens themselves decide. If they want to take advantage of the program, they can come and change their servicing bank at any time.”

For more details, refer to today’s issue of the newspaper "Pasts."