63 is the Best Age to Start Small and Medium Business, Says Pashinyan

According to Prime Minister Nikol Pashinyan, the number of pensioners in Armenia has increased by 106,697 people, or 19 percent, compared to 2018. He stated that in January 2018, the number of pensioners exceeded the number of workers in the country—555,000 pensioners compared to 513,000 workers. Pashinyan shared this information during the National Assembly meeting on December 3 while discussing the final version of the state budget for 2026.

In this context, Pashinyan noted that he has tasked the Minister of Labor and Social Affairs with initiating economic activation programs for pensioners. He remarked, “What is our perception now—63 is the retirement age? Yes, it is. But I suggest we do a different exercise. Could 63 be the best age to start a small and medium business? Who possesses greater life and work knowledge than a 63-year-old?”

Pashinyan further stated, “I have already given the directive that we should have economic support programs for pensioners aged 63 and above, because what does it mean to be 63 in the 21st century? Who can say what age 65 is, what age 70 is, or what age 75 is? We need to move away from the mindset that being a pensioner means it’s all over. No, life does not end at 63; it begins at 63, and we must adopt a strategy to change the lives of our pensioners or the older generation.”

“63 is, indeed, the best age to start small and medium business, because the knowledge stored by that age is unmatched by anyone else,” Pashinyan concluded.