Pensions to be available through bank cards in Armenia soon

PanARMENIAN.Net - As part of the envisaged pension reform, a new procedure for pensions’ payment should be applied in Armenia from 2011.

On a voluntary basis, pensioners can use bank transfers. The method of non-cash payments will be introduced from February-March, as there are still some technical matters.

Pensioners’ accounts will be opened and serviced free of charge, while the country’s government will cover the expenditures.

The press service of the Central Bank of Armenia (CBA) told a PanARMENIAN.Net reporter that several Armenian banks have already applied for participation in the new procedure for non-cash payment of pensions. “Naturally, all our banks display interest,” the CBA reported.

Special agreements will be signed between pensioners and banks. Pension’s payment method will be set as per pensioner’s application. Besides, pensioners will have the right to change their bank or transfer to a non-cash payment of pension and vice versa.

Areximbank-Gazprombank Group CJSC, which is going to join the new system of pensions’ payment, reported that Armenia’s citizens will need to submit their passports and social cards to open an account in the bank. Besides, pensioners will need to write an application that they want to receive pension via the bank, but not from post offices.

At the same time, Haypost has again warned that pension delivery in Armenia is free of charge. “People should not pay a dram when receiving their pensions,” the company said, following numerous complaints about postmen who always take a certain sum for delivering the pension.

In case of violations Haypost offers to call 514-666, 514-667 hotline.