Thursday, February 23 2017 14:09
Alina Hovhannisyan

Cumulative Pension System participants may see their account funds in Internet by www.epension.am, account operators and ATMs

Cumulative Pension System participants may see their account funds in  Internet by www.epension.am, account operators and ATMs

ArmInfo. The Cumulative  Pension System (CPS) participants may regularly receive information  on their pension account funds in Internet by www.epension.am,  account operators and ATMs

As the Center "Nork" press service told ArmInfo, in case of identity  card and equipment existence, which can read the card, the CPS  participant have the possibility to access his individual pension  account at any time and anywhere by the Internet, watch the funds  transfers and also present requisites on changes. In case of identity  card absence or the proper equipment one may use the account  operators services (HayPost, Ararat, Ardshinbank, Armbusinessbank,  HSBC Bank Armenia, INECOBANK, VTB Bank (Armenia) and Converse Bank),  providing the passport and the social card. The second method which  provides pension account check is an app of a single social portal by  www.epension.am.

According to the source, the entrance to your individual pension  account can be made by ATM, which is connected to ArCa system. By  choosing the "Additional services" option it is necessary to pass to  the "Pension account statement" option which will allow the total  amount and the last 10 transfers. If the participant will find out  the absence of funds for a certain month, it is necessary to address  the proper bodies. For all question one may call by the hot line 114  or see by www.epension.am.  Earlier, ArmInfo reported, citing the  Central Bank that within mandatory funded pension system the number  of participants of the two pension funds-C-QUADRAT Ampega Asset  Management Armenia and Amundi-ACBA- Asset-Management reached 155  thousand people by November 1, 2016. 65 thousand of them are  representatives of state sector and remaining 90 thousand of private  sector. The press-service of the Armenia's Central Bank has told  ArmInfo that from the moment of creation of these two funds (November  2013) their yield has reached 25.9% (the cost of one common share has  grew from 1000 to 1259 drams). For the 10 months of 2016 yield of the  pension funds totaled annual average 14.4%. According to the source,  as of November 1 2016 the abovementioned funds accumulated 57.2 bln  drams, 29% of which or 17 bln drams are deposits in banks, 5% or 2.8  bln are invested in bonds of corporate, mortgage and international  organizations, 41% or 23.3 bln in state bonds, 25% or 14.1 bln in  securities of foreign investment funds (ETF - Exchanged traded funds,  including stocks of such companies as Apple, Google, Microsoft,  Nestle, Toyota, Nissan, Sony, Coca-Cola etc., as well as US state  bonds and Gold mining fund securities). HayPost, Araratbank,  Ardshinbank, HSBC Bank (Armenia), INECOBANK, Converse Bank,  Armbusinessbank and VTB Bank (Armenia) are pension account operators.  Citizens can receive information about the funds on their account via  epension.am website, identification card, as well as through ATMs of  ArCa network.

To note, in November 2013 the Armenian Central Bank (CB) registered  the pension funds C-QUADRAT Ampega Asset Management Armenia and  Amundi-ACBA- Asset- Management.  The shareholders of Amundi- ACBA  Asset Management Armenia CJSC (registered by CB of Armenia on 19  November) are Amundi Asset Management with 51% shares and ACBA-Credit  Agricole Bank with 49% shares. French Amundi manages $5 trillion  assets. "C-QUADRAT Ampega Asset Management Armenia" received the CB  license on 29 November 2013. 74.9% shares of "C-QUADRAT Ampega Asset  Management Armenia" are owned by C- QUADRAT Investment and 25.1% by  German Talanx Asset Management GmbH. The group manages $130 bln  assets.

These companies offer three strategies of investment: fixed yield  pension fund (FIX), conservative pension fund (CON) and Balanced  pension fund (BAL). The customers are free to choose one of the given  strategies. In particular, the pension fund with sustainable income  implies investments of the 100% package of a customer in the debt  obligations with fixed yield (government bonds and deposits of highly  reliable banks) to avoid risks. The conservative fund implies  investment of 75% of a customer package in the debt obligations with  fixed yield and the remaining 25% in equity securities (shares).   Unlike the first two funds, the balanced fund implies equal  distribution of funds (50%/50%) in the debt obligations with fixed  yield and shares where a beneficiary must know about the risk  connected with fall of stock prices depending on the market condition  and the state of the emitter- company.

To recall, the compulsory accumulative pension system was introduced  in Armenia on January 1 2014 and applies to the citizens born after  Jan 1 1974. According to the new law on Accumulated pensions, the  minimal pension in the country will be equal to the minimum wage,  while the basic pension will total 150% of the minimum wage. Starting  Jan 1 2014, 5% of citizens' salaries have been transferred to their  personal accumulative accounts. The government will transfer a  similar amount (but no more than 25,000 drams).


News
Joint Project of HSBC Group and Orran Benevolent Organisation Supports 200 Young People in Regions to Get Jobs and Start their BusinessJoint Project of HSBC Group and Orran Benevolent Organisation Supports 200 Young People in Regions to Get Jobs and Start their Business
Armenian NPP connected to RA unified power grid since October 17Armenian NPP connected to RA unified power grid since October 17
Leadership of SRC of Armenia will be sent to MoscowLeadership of SRC of Armenia will be sent to Moscow
Russia`s trade representative: Armenian market is traditionally attractive for RussiaRussia`s trade representative: Armenian market is traditionally attractive for Russia
5th meeting of Armenian-Czech Intergovernmental Commission on  Economic Cooperation held in Yerevan5th meeting of Armenian-Czech Intergovernmental Commission on  Economic Cooperation held in Yerevan
Make payments via Idram in online stores, get free delivery or a cashback and take part in the drawMake payments via Idram in online stores, get free delivery or a cashback and take part in the draw
Interest rates on loans and deposits have grownInterest rates on loans and deposits have grown
In Moscow, Suren Papikyan discussed issues related to In Moscow, Suren Papikyan discussed issues related to "North-South  Power Corridor" and construction of a new nuclear power unit in  Armenia 
Armenian Minister of Economy received Deputy Minister of Industry and  Trade of Czech RepublicArmenian Minister of Economy received Deputy Minister of Industry and  Trade of Czech Republic
Issue of feasibility of creating institution of business ombudsman is  being discussed at RA Economy Ministry Issue of feasibility of creating institution of business ombudsman is  being discussed at RA Economy Ministry 
Armenia is ready to cooperate in developing common approach to  protect EAEU internal market in case of pressure from third partiesArmenia is ready to cooperate in developing common approach to  protect EAEU internal market in case of pressure from third parties
Armenian government approves draft decision on increasing ANIF  authorized capitalArmenian government approves draft decision on increasing ANIF  authorized capital
Pashinyan: Formation of the common energy market of the EAEU is a  prerequisite for the full realization of the potential of economic  integrationPashinyan: Formation of the common energy market of the EAEU is a  prerequisite for the full realization of the potential of economic  integration
Official supplier of furniture for shops of number of world brands  and a pharmaceutical company received tax incentive from RA  Government Official supplier of furniture for shops of number of world brands  and a pharmaceutical company received tax incentive from RA  Government 
Water users will be reimbursed for rent for irrigation water for a  period of 5 years in the event of the introduction of drip irrigation  systems on an area of up to 3 hectaresWater users will be reimbursed for rent for irrigation water for a  period of 5 years in the event of the introduction of drip irrigation  systems on an area of up to 3 hectares
RA Minister of Economy did not rule out that Standard & Poor`s would assign credit rating to RA Minister of Economy did not rule out that Standard & Poor`s would assign credit rating to "Export Insurance Agency of Armenia" CJSC
S&P Improved the Outlook on Ameriabank to Positive S&P Improved the Outlook on Ameriabank to Positive 
S&P improves forecast for 2021 on Real GDP Growth in Armenia to 6.3%S&P improves forecast for 2021 on Real GDP Growth in Armenia to 6.3%
Expert: Building a 600 MW reactor would be the most appropriate  option for ArmeniaExpert: Building a 600 MW reactor would be the most appropriate  option for Armenia
Expert: It is reasonable to use stock exchanges for the formation of  market-based gas prices Expert: It is reasonable to use stock exchanges for the formation of  market-based gas prices 
Head of Ministry of Territorial Administration got acquainted with  work of  Agarak Copper-Molybdenum CombineHead of Ministry of Territorial Administration got acquainted with  work of  Agarak Copper-Molybdenum Combine
IMF stands ready to assist Government of Armenia in implementing its  ambitious reform agendaIMF stands ready to assist Government of Armenia in implementing its  ambitious reform agenda
Standard & Poor`s assigns sovereign rating to Armenia for the first  timeStandard & Poor`s assigns sovereign rating to Armenia for the first  time
Global Finance Names Ameriabank the Safest Bank in ArmeniaGlobal Finance Names Ameriabank the Safest Bank in Armenia
Revenue of the trade sector of Armenia for 8 months of 2021 exceeded  $ 4 billionRevenue of the trade sector of Armenia for 8 months of 2021 exceeded  $ 4 billion
Armenia will allocate more for military spending in 2022 than in  2021, but less than for servicing and paying off government debtArmenia will allocate more for military spending in 2022 than in  2021, but less than for servicing and paying off government debt
Armenia and Poland intend to intensify cooperation between startups  of two countriesArmenia and Poland intend to intensify cooperation between startups  of two countries
Global Finance names AraratBank the Best Sub-Custodian Bank in ArmeniaGlobal Finance names AraratBank the Best Sub-Custodian Bank in Armenia
Armenian government delegation to take part in Russian Energy WeekArmenian government delegation to take part in Russian Energy Week
Armenia participates in Europe`s largest trade fair for food within  EU4Business initiativeArmenia participates in Europe`s largest trade fair for food within  EU4Business initiative
Ambassador: Sweden welcomes the readiness of the Armenian government  to carry out systemic reformsAmbassador: Sweden welcomes the readiness of the Armenian government  to carry out systemic reforms
Gnel Sanosyan and Kishan Dan Dewal discussed the North-South  investment program and the possibilities of the Iranian port of  ChabaharGnel Sanosyan and Kishan Dan Dewal discussed the North-South  investment program and the possibilities of the Iranian port of  Chabahar
EIB stands ready to support the efforts of the Armenian government to  improve the business environmentEIB stands ready to support the efforts of the Armenian government to  improve the business environment
Minister of Economy took part in opening of PanArmenian Expo 2021  12th International Exhibition- ForumMinister of Economy took part in opening of PanArmenian Expo 2021  12th International Exhibition- Forum
Ambassador: Economic cooperation between Armenia and Slovenia does  not correspond to the existing potentialAmbassador: Economic cooperation between Armenia and Slovenia does  not correspond to the existing potential
Draft state budget: In 2022, Armenia will increase its national debt  by another $ 1.053 billion - to about $ 10.2 billionDraft state budget: In 2022, Armenia will increase its national debt  by another $ 1.053 billion - to about $ 10.2 billion
ANIF starts cooperation with Italian Intesa Sanpaolo group ANIF starts cooperation with Italian Intesa Sanpaolo group 
Tigran Khachatryan and Carolin Geginat discussed prospects of  cooperation between  RA Government and World BankTigran Khachatryan and Carolin Geginat discussed prospects of  cooperation between  RA Government and World Bank
Production of brandy became leader in terms of volume in Armenia`s  alcoholic industry, and whiskey production is leader in terms of  growth ratesProduction of brandy became leader in terms of volume in Armenia`s  alcoholic industry, and whiskey production is leader in terms of  growth rates
Freight and passenger transportation reaches double-digit growth  in ArmeniaFreight and passenger transportation reaches double-digit growth  in Armenia
Telecommunications revenue in Armenia increased by 4.8% in 8 months  of 2021Telecommunications revenue in Armenia increased by 4.8% in 8 months  of 2021
Head of Central Bank of Armenia met with President of Council of  Ministers of ItalyHead of Central Bank of Armenia met with President of Council of  Ministers of Italy
Central Bank of Armenia: Net inflow of transfers from individuals for  8 months of 2021 exceeded the pre- covid volume 2-foldCentral Bank of Armenia: Net inflow of transfers from individuals for  8 months of 2021 exceeded the pre- covid volume 2-fold
Armenian government prepares to issue Diaspora bondsArmenian government prepares to issue Diaspora bonds
Armenia`s metallurgical industry reaches double-digit growthArmenia`s metallurgical industry reaches double-digit growth
Pashinyan: The state will participate in all the promising investment  programs of GeoProMining in ArmeniaPashinyan: The state will participate in all the promising investment  programs of GeoProMining in Armenia
Armenia`s foreign trade with EU countries reaches double-digit growthArmenia`s foreign trade with EU countries reaches double-digit growth
Armenia`s foreign trade with EAEU countries intensifies at a rapid  paceArmenia`s foreign trade with EAEU countries intensifies at a rapid  pace
Armenia reduced production of aluminum foil by 3.9% in 8 monthsArmenia reduced production of aluminum foil by 3.9% in 8 months
Aram Sargsyan: The key to Armenia`s development is universal  diversificationAram Sargsyan: The key to Armenia`s development is universal  diversification
World Bank`s forecast on GDP growth in Armenia for 2021 turned out to  be more optimistic than the forecast of the Central Bank of Armenia -  6.1% versus 5.4%World Bank`s forecast on GDP growth in Armenia for 2021 turned out to  be more optimistic than the forecast of the Central Bank of Armenia -  6.1% versus 5.4%
In Armenia, y-o-y inflation in September 2021 reached 8.9% due to  increase in food pricesIn Armenia, y-o-y inflation in September 2021 reached 8.9% due to  increase in food prices
Ruling faction advocates gradual abolition of income tax refund  system on mortgage loans in YerevanRuling faction advocates gradual abolition of income tax refund  system on mortgage loans in Yerevan
Armenia and Russia discussed issues of Armenian-Russian economic  cooperationArmenia and Russia discussed issues of Armenian-Russian economic  cooperation
ACBA Bank: publicity and a new development paradigmACBA Bank: publicity and a new development paradigm
Production of solar energy has increased significantly in ArmeniaProduction of solar energy has increased significantly in Armenia
Total investment in the construction of a copper smelter, the second  open pit at ZCMC, an enrichment plant and a new nuclear power plant  of average capacity in Armenia is estimated at $ 3-3.5 billionTotal investment in the construction of a copper smelter, the second  open pit at ZCMC, an enrichment plant and a new nuclear power plant  of average capacity in Armenia is estimated at $ 3-3.5 billion
Growth of Armenia`s foreign trade turnover in 8 months of this year  significantly exceeded pre-COVID ratesGrowth of Armenia`s foreign trade turnover in 8 months of this year  significantly exceeded pre-COVID rates
Armenia will receive official grants of approximately USD 81.6  million in 2022Armenia will receive official grants of approximately USD 81.6  million in 2022
Iran is in TOP-3 of Armenia`s foreign trade partners after Russia and  ChinaIran is in TOP-3 of Armenia`s foreign trade partners after Russia and  China
Read more


Exchange rates
18.10.2021
RUB6.71-0.01
USD478.27-0.15
EUR553.88-1.18
GBP656.66-0.11
CAD385.89-1.65
JPY41.82-0.01
CNY74.380.08
CHF516.32-1.84