Armenia to raise minimum pension by 60 per cent
Armenia’s government announced on September 17 that it plans to increase pensions by 60 per cent from January 1, 2019. According to the new bill, the new basic pension will be 25,500 drams (approximately 52.50 US dollars), which the government claims will be enough to top the threshold of food poverty. Armenia’s current basic pension is 16,000 drams.
The news was broken by Mesrop Arakelyan, an advisor to Armenia’s prime minister, Nikol Pashinyan. However, on his Facebook page, Mr Arakelyan noted that this is merely a legislative project and that no final decision has yet been made.
“There will no longer be impoverished pensioners in Armenia, and the government is doing utmost to ensure a dignified and prosperous old age,” wrote Mr Arakelyan.
According to the Deputy Minister of Labour and Social issues Smbat Sahyan, the purpose of the new bill is to overcome extreme food poverty among pensioners. As such, the new regulations extend only to those who currently live below subsistence levels, around 21,000 people.
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