YEREVAN, October 8. /ARKA/. At its meeting on Thursday, the Armenian government decided to allocate 40.8 billion drams to fund pension and social payments for the fourth quarter of 2026.
The funds are earmarked, in particular, for cashback payments to pensioners for cashless transactions, as well as for financing measures established by government decisions.
According to the rationale for the decision, the additional funding requirement is primarily driven by increases in pension and benefit amounts.
About the cashback program for pensioners and benefit recipients
The program offering a partial refund on cashless payments for purchases and utility bills has been in effect in Armenia since July 1, 2022. A government decision has extended the program’s duration until December 31, 2026.
Initially, the cashback amount was 10% of monthly expenses, capped at 5,000 drams. It was subsequently raised to 12%, capped at 6,000 drams. As of January 1, 2026, the cashback rate is 20% of cashless expenses, capped at 10,000 drams per month.
Funds are transferred by the 25th day of the month following the reporting month. ($1 = 362.32 drams).
