YEREVAN, March 4. /ARKA/. The data of approximately 10,000 pensioners in Armenia will be automatically distributed among four banks starting tomorrow, taking into account geographic accessibility, announced Minister of Labor and Social Affairs Arsen Torosyan.
Starting April 1, 2026, pensions and social benefits in the republic will be paid exclusively in cashless form. In early February, the Armenian Ministry of Social Affairs called on pensioners and benefit recipients who continue to receive payments in cash to select a bank by March 5, 2026, to switch to cashless payments. However, applications to change banks will no longer be accepted between March 5 and April 1, and for citizens who have not submitted an application to change their payment method, the bank selection will be made automatically. “Agreements with four banks have already been signed, and the process of delivering bank cards will begin,” Torosyan noted during government hour in parliament on Wednesday.
The minister reported that 10,000 pensioners have already registered but have not yet chosen their cashless payment option.
“Today is the last day for them to resolve this issue voluntarily, as we needed time to transition to cashless payment by April 1st. No pensioners will lose their right to receive their pension,” Torosyan said.
According to him, employees of the Unified Social Service will assist those citizens who are unable to receive their pensions in person at that time and sign for delivery.
Regarding the availability of cashless commerce, the minister stated that all business entities are required to have POS terminals for cashless payments and have no right to refuse anyone cashless purchases of goods and services.
It was previously reported that bank cards would be delivered by courier service exclusively to citizens with limited mobility, with the presence of social workers if necessary.
