YEREVAN, November 20. /ARKA/. All types of state benefits and pensions in Armenia will be paid entirely in non-cash format, announced RA Minister of Labor and Social Affairs Arsen Torosyan.
“There will be no cash payments under any circumstances. In the last month alone, the number of pension and benefit recipients in cash has decreased by 10,000. Currently, there are 661,000 benefit beneficiaries and pensioners in Armenia, of which only 60,000 receive them in cash, while the remaining 600,000 receive them non-cash,” Torosyan announced at a government meeting on Thursday.
The minister stated that this regulation will come into force on April 1 to ensure that the aforementioned 60,000 people, some of whom require support in transitioning from cash to non-cash payments, experience the most seamless and unhindered transition.
Earlier, on November 6, Armenian Prime Minister Nikol Pashinyan demanded that pensions be paid exclusively in non-cash form within two weeks. Currently, only individuals over 75 receive their pensions in cash.
About cashback on benefits and pensions
A cashback program for those receiving benefits has been in effect in Armenia since July 1, 2022. Pensioners and benefit recipients. Initially, they received a 10% cashback on their monthly spending (up to a maximum of 5,000 drams per month); later, the cashback increased to 12% (up to a maximum of 6,000 drams). The amount is paid out by the 25th of the following month.
Starting January 1, 2026, the cashback amount will be increased to 20%. ($1 = 381.47 drams).
