Clarification on Pension Revisions: Tunyan

Babken Tunyan, a member of the "Civil Contract" faction in the National Assembly, addressed the increase of pensions and benefits starting from September 1 in his Facebook post, while also responding to existing reactions regarding the information.

In his post, he stated: "As it has already been announced, pensions and benefits will be increased starting September 1, 2022. As I have seen some sarcastic and critical comments, I would like to provide some clarifications regarding the revision of pensions:

1. The amount of the basic (foundation) pension, which will be increased by 3000 drams (from 18,000 to 21,000), is not the average pension but rather the main one, on the basis of which the working pension is calculated. This means that the basic pension, on which coefficients are applied depending on the length of service, will increase and individuals will receive higher amounts. Therefore, the average pension will increase by at least 3000 drams.
2. In absolute terms, 3000 drams may not seem like a large figure; however, in percentage terms, it represents a 16.6% increase, which is significant.
3. This is an interim increase effective from September 1. Pensions will be revised again on January 1, 2023, as announced.
4. The government, in its program for 2021-2026, has promised that by 2026, the average pension will exceed the cost of the consumer basket, and the minimum pension will be above the food basket, regardless of how much food and consumer baskets cost.
5. This indicates that pensions will rise faster than the value of the consumer basket.
6. It also means that pensioners will be able to cover at least their minimal needs with their pensions. Regardless of how some may dislike this and despite the displeasure of those who believe the government will achieve what they have not in 20 years, we will do everything possible to make this a reality."