Will Pension Amounts Be Raised? The Minister Responds

In 2024, pension amounts will not increase, but a change is anticipated for 2025. This was stated today by the Minister of Labor and Social Affairs, Narek Mkrtchyan, during a conversation with reporters.

According to him, an important decision has been made regarding the implementation of a 10% cashback program for non-cash calculations of pensions and benefits, but not exceeding 5,000 drams. “What is this if not an effect of pension increases?” added the minister.

Mkrtchyan noted that the total volume of non-cash transactions as a result of the 10% cashback program amounted to 62 billion drams. “The total amount of cashback provided is 5.2 billion drams,” he said.

According to him, 515,000 people receive pensions or benefits in non-cash form. “In the near future, we will initiate legislative changes that will allow individuals who have reached retirement age to defer the start of pension payments, so they can later receive a larger amount,” said the minister.