Citizens Have the Right to Withdraw Pension Accumulations at Any Time: Bill Passed

The National Assembly has approved a draft amendment to the law on "Pension Accumulations." According to this amendment, participants in the pension accumulation system have the right to request the full amount of funds available in their pension accounts at any time, including before reaching retirement age.

The draft was discussed at yesterday's session of the Assembly. Deputy Minister of Health Artak Jumayan, presenting the bill, stated that under the existing law, a participant is entitled to submit a request for the full amount of funds in their pension account at any time, including before reaching retirement age, based on a conclusion provided by the Ministry of Health for conditions included in the Government's established list of diseases.

Currently, the process is conducted by the Ministry of Health. The proposed amendments aim to transfer this function to the Unified Social Service of the Ministry of Labor and Social Affairs. This division is responsible for the assignment and disbursement of pensions, allowances, monetary payments, as well as the assessment of individual functionality.