It Is Known How Much Pensions Will Increase Regardless of Experience

As of April 1, two fundamental changes in the pension sector will come into effect: one is the increase of pensions, and the other is that pensions will be paid exclusively in cash.

This was announced during a press conference by Anahit Galstyan, head of the Pension Security and Other Monetary Payments Department at the Ministry of Labor and Social Affairs of Armenia.

“Regarding the increase of pensions, we have already discussed the issue; today let us clarify once again that all working pensions will increase by at least 10,000 drams, regardless of the work experience,” said the official.

According to her, typically, the amount of a pension is determined by the work experience, but since the basic pension and minimum pension have increased, this means that pensions will increase regardless of experience.

“And since there have been questions during this time, let me clarify again: whether for 10 years of experience or 50 years of experience, in any case, the pension amount for the month of March will increase by another 10,000 drams. Moreover, I say at least 10,000 drams because certain types of work pensions will increase a bit more,” Anahit Galstyan concluded.