The State Pension System of the Republic of Armenia has two components; Social Pension and Employment Pension. Social pension (zero component of the multi pillar pension system, also called public benefit) is a defined pension rate which is not based on the payments made. It is funded from the State Budget, and its main issue is to provide pensioners who have no required eligible years of service with the minimum income.
Employment Pension (the first level of the multi pillar pension system) is the old-age pension, based on the payments made. However, the amount of this pension type is not conditioned by the payments the person has made during the employment years, but by the number of seniority years.
The pillar of the public pension in Armenia is based on the principle of solidarity between generations, i.e. the working population makes payments for the current pensioners to get their pension from 0 and 1 components.
In this section You will find the complete information about the public pensions in Armenia. Do not hesitate to contact our specialist online if you have any further questions.
Frequently Asked Questions
Funds and Managers
One Social Window