ArmInfo. The 1,000 drams pension increase promised by the Armenian authorities will not take place.
In a conversation with journalists, RA Finance Minister Vahe Hovhannisyan stated that the initial plan was to slightly increase pensions using funds saved from funeral deductions. However, since the Ministry of Labor and Social Welfare insisted on maintaining funeral payments, the pension increase will not take place. The minister noted that everything has been calculated in the state budget, and there are no new funding sources. "We stated that the funds allocated for funeral benefits would be used to increase pensions. However, after concerns were raised, the Ministry of Labor and Social Welfare decided that this decision should not be made at this time. "Therefore, these funds will not be used to increase pensions, which I consider logical," stated Vahe Hovhannisyan.
As a reminder, Minister of Labor and Social Welfare Arsen Torosyan previously announced that the procedure for paying funeral benefits would not change. Benefits will continue to be paid in accordance with the current procedure, and the bill submitted for public discussion will not be sent to the National Assembly.
