ArmInfo.In 2024, the program for the return of pensions and benefits for transactions on non-cash payments for beneficiaries will not undergo any changes, Minister of Finance of the Republic of Armenia Vahe Hovhannisyan stated on December 6, during the presentation of the final version of the draft state budget of Armenia for next year.
He noted that pensioners and socially disadvantaged citizens of the country have received 10% cashback and will continue to receive it. It's just that, unlike this year, when 5% was paid by commercial banks and the same amount by the government of the Republic of Armenia, now the cashback will be paid in full by the country's cabinet. The minister suggested that the new form of financing will no longer require pensioners to have a card from a specific commercial bank that has joined this program. "I believe that the Ministry of Labor and Social Affairs should conclude agreements with the remaining banks that were not previously included in the program. I hope that the banks themselves will be ready for this. Thus, beneficiaries will not need to change their accounts by transferring them to another bank," said the head of the Ministry of Finance.
By decision of the Cabinet of Ministers dated May 19, 2022, a program for the return of pensions and benefits for transactions using non-cash payments was launched in Armenia on July 1. Citizens receiving pensions or benefits in non-cash form who will make transactions with payment cards and payment devices at retail outlets and service providers operating in Armenia will be reimbursed 10% until the 25th of the next month, but not more than AMD 5,000.
The refund also applies to utility bills. The mechanism applies not only to ATMs, but also to utility payments through the bank's electronic (mobile banking) application. At the moment, VTB Armenia Bank, Ardshinbank, ACBA Bank and ArmBusinessBank, Armeconombank and Unibank have already joined the program. Initially, it was planned that all those citizens who wish to change the financial organization providing them with a pension or benefit could contact the territorial center of the unified social service. At the time of the decision, it was envisaged that the program would operate in pilot mode until December 31, 2022. However, then the Armenian government decided to extend the program until June 30, and then until December 31, 2023.
On September 14, at a meeting of the Cabinet of Ministers, Prime Minister Nikol Pashinyan said that, in fact, today he can record that about 20-25% of pensioners use the program.
