Government Sets Minimum Pension Amount

The Government of Armenia has increased the minimum pension amount to 31,600 drams, ensuring that all pensions in the country will rise by at least 3,000 drams.

According to a report by Armenpress, Deputy Prime Minister Hambardzum Matevosyan requested Minister of Labor and Social Affairs Narek Mkrtchyan to present the issue that was not on the agenda during the government meeting on September 8.

“As the Prime Minister mentioned during the previous government meeting, we plan to raise pensions by at least 3,000 drams. From September 1, the base pension amount was set at 21,000 drams instead of the previous 18,000 drams. The minimum pension amount was established at 30,500 drams instead of 28,600 drams. Based on the current regulation and law, a certain group of pensioners received less than 3,000 drams, and we decided to raise the minimum pension amount to 31,600 drams, which will guarantee that all pensioners will receive our promised 3,000 drams,” Mkrtchyan stated.

This decision means that those who had their pensions raised by 1,900 or 2,500 drams under the previously established regulations will receive the remaining amount with their October pension. Regarding the 75,000 beneficiaries, the minister clarified that these individuals are elderly benefit recipients whose increases occur not under the Law on Pensioners but rather under the Law on Beneficiaries.

“Therefore, we also decided to raise their benefits to correspond with the minimum pension amount. In total, 97,000 beneficiaries will see an increase in their pensions and benefits starting from September 1, which they will receive with their October pension,” the minister explained.