YEREVAN, December 17. /ARKA/. Armenian Minister of Labor and Social Affairs Arsen Torosyan denied rumors that welfare recipients and pensioners will be prohibited from withdrawing cash starting January 1, 2026, calling them a “blatant lie.”
He emphasized that while cash withdrawals are allowed, they are not recommended, as opting for non-cash transactions can yield cashback, effectively boosting benefits and pensions by 20%, capped at 10,000 drams.
“Thus, receiving and utilizing pensions and benefits in a non-cash manner is advantageous,” the minister remarked.
He reminded that starting April 1, 2026, all pensions and benefits will be disbursed to pensioners and benefit recipients solely via bank transfer, highlighting that 600,000 Armenian citizens are already receiving their benefits and pensions this way.
“I encourage the remaining approximately 58,000 citizens to also transition to this payment method independently, without waiting for April 1, as it is beneficial,” Torosyan stated.
The cashback initiative for pensioners and benefit recipients in Armenia has been operational since July 1, 2022. Initially, they were granted a 10% cashback on their monthly expenditures (up to a maximum of 5,000 drams per month); subsequently, the cashback rate was raised to 12% (up to a maximum of 6,000 drams). The cashback amount is disbursed by the 25th of the following month.
On September 25, 2025, the Armenian government allocated nearly 3.22 billion drams to sustain the cashback program for pensioners and benefit recipients until the year’s end.-0-
