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EAEU is 11 years old: A History of Success – Ambassador of the Russian Federation to the Republic of Armenia S.P. Kopyrkin on EAEU Day
... Eurasian Economic Union (EAEU) celebrate EAEU Day on May 29. This dynamically developing integration organization, uniting Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, has proven its relevance and viability in a relatively short period of time by historical ... ... Workers and their family members are provided with medical care. Children have access to school education. The Agreement on Pension Provision for Workers has been in force since 2021. It allows you to maintain and exercise your pension rights, regardless ...
05/29/2025Foreign investors view Armenia as a high-risk nation, according to former head of State Revenue Committee
... a press conference last week that the demand for the Eurobonds launched on March 5 was nearly three times the issue volume. He acknowledged that the interest rate is notably high, reflecting the surge in market rates in recent years and underscoring Armenia's international reputation and attractiveness to global investors. The primary purchasers of these bonds included investment companies, pension funds, hedge funds, and banks, with 45% from the UK, 34% from the US, 14% from Europe, and 5% from the Middle East and North Africa. The net proceeds from this bond issuance will be directed towards addressing the state budget deficit.-0-
05/05/2025Pashinyan told what about 2 trillion drams confiscated as illegal property were used for
... trillion drams, confiscated as illegally acquired property, have been either redistributed among the population or invested in Armenia’s strategic development. YEREVAN, April 15. /ARKA/. Around 2 trillion drams, confiscated as illegally acquired property,... ... its return,” said Pashinyan. According to him, from 2018 to 2024, a total of 233.8 billion drams was allocated to increasing pensions. “We’ve doubled the minimum pension. Pensions have been raised five times. The average pension has increased by 22....
04/15/2025Pension funds in Armenia will be allowed to increase investments in economies of other countries
Armenia’s National Assembly has approved today in the first reading a draft law designed by the Central Bank, which proposes to double the amount of investments that Armenian pension funds can make in other countries. YEREVAN, January 22. /ARКА/. Armenia’s National Assembly has approved today in the first reading a draft law designed by the Central Bank, which proposes to double the amount of investments that Armenian pension ...
01/22/2025Income declaration in Armenia: A complete guide to everything you need to know
The State Revenue Committee of Armenia has provided answers to the most frequently asked questions regarding who must file an income tax return in 2025 for the ... ... declaration? Yes, if you are on parental leave, you are still considered an employee and must file an annual income tax return. 14. Do pensioners need to file a declaration? No, pensioners are not required to file a declaration unless, during 2024, they were also ...
01/21/2025Armenia to tighten taxation of online casinos - PM
The Armenian government is preparing several more bills to tighten taxation of online casinos, Prime Minister Nikol Pashinyan said ... ... tax rate on online casinos and bookmakers several times. Online betting has also been restricted - the ability to pay with pension cards and salary cards of law enforcement officials has been blocked. However, Pashinyan considers these measures insufficient....
12/05/2024Profitability of Armenian pension funds reached 7.8% - Central Bank of Armenia
The profitability of Armenian pension funds is estimated at approximately 7.8%, Vigen Shahnazaryan, Head of the Securities Market Department of the Central Bank of Armenia, said in an interview with Public Television of Armenia. YEREVAN, November 28. /ARKA/. The profitability of Armenian ...
11/28/2024Pension fund assets in Armenia reach 1 trillion drams - Deputy Chairman of Central Bank
The assets in Armenia's pension funds have already reached 1 trillion drams, according to Armen Nurbekyan, Deputy Chairman of the Armenian Central Bank. YEREVAN, November 27. /ARKA/. The assets in Armenia's pension funds have already reached 1 trillion drams, according to Armen ...
11/27/2024Armenian pension funds may increase investments abroad
The Central Bank of Armenia presented a draft law to the parliamentary committee on financial and budgetary issues, proposing to double the amount of investments that Armenian pension funds can make in other countries YEREVAN, November 23. /ARKA/. The Central Bank of Armenia presented a draft law to the parliamentary committee on financial and budgetary issues, proposing to double the amount of investments that Armenian pension ...
11/25/2024Online platform for data exchange between depository and notaries to be launched in Armenia.
... Notary Chamber Lilit Muradyan signed an agreement on launching a new electronic data exchange platform, the press service of the Armenian Stock Exchange reported. The platform will allow notaries to send requests to the Central Depository in order to receive information about the shares of securities and pension funds of the testator, as well as exchange data contained in the certificate of inheritance right. This arrangement was approved ...
11/01/2024Amundi-Acba Asset Management success story: assets managed by the fund reached 517 billion drams in 10 years
... its inception here ten years ago demonstrate success on the way of establishing Armenia's mandatory funded pension system, Executive Director of Amundi-Acba Asset Management Jean Mazedjian told a news conference on Tuesday. The company manages three pension funds -Amcon, Ambal, and Amfix. “Throughout these ten years, Amundi-Acba has overcome numerous challenges in promoting the transparency and development of Armenia’s asset management industry. The company has also made significant efforts to introduce tools that contribute to the management of foreign exchange risks. Additionally, Amundi-Acba adopted globally recognized best practices in asset management,...
09/24/2024Investment risks and diversification: how to build a safe and profitable portfolio
... strategy for dealing with infrastructure threats is to invest in the markets of different countries. For example, you can open a pension investment account with a local broker and invest in a foreign index fund. The assets of countries with underdeveloped ... ... risks. This article was prepared as part of the joint project "Year of Investing in Oneself" by ARKA, AMI Novosti-Armenia news agencies and Freedom Broker Armenia .
07/16/2024Economic diversification is an important tool on Armenia's path to independence - French Ambassador
... on this path," Decottignies noted. The Ambassador said that today the Armenian branch of the French company Veolia Jour is the operator of Armenia's water supply system, and the French company AMUNDI-ACBA is one of the managers of the country's pension funds. "Thus, we have started the process of assisting Armenia and we can do more. This implies that Armenia has a favorable business environment, which in turn implies fighting corruption, monopolies, as well as creating favorable conditions for foreign enterprises that operate in Armenia," Olivier ...
04/04/2024Central Bank of Armenia gives preliminary consent for acquisition of Ameriabank by Bank of Georgia Group
Еhe Board of the Central Bank of Armenia gave March 29 a preliminary consent to the acquisition of a significant part in the authorized capital of Ameriabank CJSC ... ... financial institutions, such as JPMorgan, BlackRock, The Vanguard Group, Schroders, Norges Bank Investment Management (a leading pension fund), etc. Following approvals and closing of the transaction, Ameriabank will operate as a standalone entity within ...
04/01/2024How choosing an account can help you reach your financial goal
... instrument for long-term investment in high-yielding assets. - Savings on IIS, unlike funds on deposit and savings account, are not insured by the state. Conclusion: Investment... ... allow you to make transactions on the stock exchange, invest in education, provide pension and health insurance. For an investor when choosing, it is important, first... ... of a joint project "The Year of Investing in Oneself" by ARKA, AMI Novosti-Armenia news agencies and Freedom Broker Armenia .
03/21/2024Expert: Armenia has investment capital of several billion dollars; the problem is lack of good investment projects
... deposits worth $14 billion, while they have issued loans worth $11.4 billion. "The equity capital of banks is $3.6 billion, which also needs to be invested. The banks have raised soft loans from various international organizations, which are placed. Pension funds manage over $2 billion in assets which are also invested. There are also credit, insurance, investment companies ... There are no problems with money in Armenia: if a good and reliable investment project is developed, it will have no problems with financing," he said. According to Zakharyan, the most promising sectors for investments are construction, services, including financial services. "Naturally,...
03/05/2024Official of Armenia's Social Service accused of taking bribes for processing pension documents
Armenia's Anti-Corruption Committee said it has revealed cases of bribe-taking by an official of the Unified Social Service. ... ... December 2023, the official demanded and received various amounts as bribes from a number of individuals for processing their pension documents. In particular, the official, identified as S.A., demanded and received a bribe of 400 thousand drams (almost ...
03/01/2024Ameriabank set to join BOGG, a London Stock Exchange (LSE) listed financial group as a standalone entity
... step, the transaction is subject to approval by shareholders, as well as the regulatory bodies, including the Central Bank of Armenia. Bank of Georgia Group PLC is a UK incorporated international finanacial group listed on the Premium Segment of the LSE ... ... financial institutions, such as JPMorgan, BlackRock, The Vanguard Group, Schroders, Norges Bank Investment Management (a leading pension fund), etc. Following approvals and closing of the transaction, Ameriabank will operate as a standalone entity within ...
02/19/2024First issue of bonds by Electrical Networks of Armenia placed ahead of schedule, - CEO
... company's CEO Karen Harutyunyan said. YEREVAN, February 14. /ARKA/. The first issue of bonds by the Electrical Networks of Armenia (ENA) national power distribution company to the tune of AMD 32 billion has been placed ahead of schedule, the company's ... ... company issued last December some 320,000 bonds worth AMD 32 billion. Some 36.1% of the bonds were purchased by banks, 52% by pension funds and the remaining 10.8% by retail investors. "In total, our company attracted 311 investors, of which only 44 are banks ...
02/14/2024Amundi-Acba Asset Management pension funds' assets saw 12-15% growth in 2023
... speaking at the "Amundi-Acba 2024 Economic Forum". YEREVAN, January 29. /ARKA/. Amundi-Acba Asset Management pension funds ‘assets showed a 12-15% growth in 2023 despite cautious investment policy throughout the year, Amundi-Acba Asset Management ... ... countries, bonds denominated both in foreign and local currencies have grown by 10-13%," he said. Aslanyan emphasized that Armenia has not been left out of these developments. "Thanks to lower inflation and lower refinancing rate set by the Central ...
01/29/2024Investments for specific purposes: retirement planning and education
... achieve results will help you select and prioritize the right financial instruments. Pension planning Retirement planning refers to long-term goals. Retirement is often... ... and are least susceptible to the negative impact of inflation. A smaller portion of funds can be invested in government bonds. These assets, like deposits, do not imply... ... representatives of children and third parties in their own name or in the name of the child. In Armenia, it is the depositor who manages the funds until the child comes of age. Children...
01/17/2024High-paid workers in Armenia will be offered to postpone retirement - Ministry of Social Affairs
... skilled workers of retirement age with monthly salaries of 300,000 drams ($740) and above will be offered to postpone retirement, Armenian Minister of Labor and Social Affairs Narek Mkrtchyan said on Wednesday. YEREVAN, January 11. /ARKA/. Highly skilled ... ... Labor and Social Affairs Narek Mkrtchyan said on Wednesday. According to the minister, there are now about 9,000 such working pensioners in Armenia. "And we have to do everything possible so that they continue to stay in the labor market, bringing ...
01/11/2024Pension increase not planned in Armenia in 2024, minister says
There are no plans to raise pensions in Armenia in 2024, Minister of Labor and Social Affairs Narek Mkrtchyan said on Wednesday. YEREVAN, January 10. /ARKA/. There are no plans to raise pensions in Armenia in 2024, Minister of Labor and Social Affairs Narek Mkrtchyan said on Wednesday....
01/10/2024Armenian parliament votes to make Probation Service a separate type of state service
The Armenian National Assembly has approved today in the second and final reading a legislative initiative designed to make the Probation ... ... completion of which they will be able to expect a higher salary. In addition, Probation Service employees will be able to count on a pension equivalent to military pension.-0-
12/22/2023More than 10,600 Nagorno-Karabakh refugees granted pensions and other monetary payments in Armenia
Some 10,629 refugees from Nagorno-Karabakh have been granted pensions and other monetary payments in Armenia so far, Zaruhi Manucharyan, spokeswoman for Armenia's Minister of Labor and Social Affairs said on Tuesday. YEREVAN, December 19. /ARKA/. Some 10,629 refugees from Nagorno-Karabakh have been granted pensions and other monetary payments in ...
12/19/2023Electric Networks of Armenia for the first time issues AMD 32 bln bonds
... service, connecting new subscribers to the network and modernizing electricity-metering systems. The placement is scheduled to be completed on February 9, 2024, and so far 30% of the bonds have already been purchased. The main potential investors are Armenian banks and pension funds, but the process of purchasing the bonds has been simplified for individuals as well: anyone can purchase the bonds through the MyAmeria app. After listing on the Armenian Securities Exchange, the bonds are expected to enter the secondary market ...
12/19/2023Nagorno-Karabakh refugees submit more than 5 thousand applications for pensions in Armenia - Ministry of Social Security
More than 5,000 senior refugees from Nagorno-Karabakh have already applied to Armenia's Ministry of Labor and Social Affairs for pensions, Deputy Minister David Khachatryan said on Tuesday. YEREVAN, December 12. /ARKA/. More than 5,000 senior refugees from Nagorno-Karabakh have already applied to Armenia's Ministry of Labor and Social Affairs for pensions, Deputy Minister ...
12/12/2023Armenian government sets procedure for paying pensions to refugees from Nagorno-Karabakh
The Armenian government has extended today until June 1, 2024 the deadline for pensioner refugees from Nagorno-Karabakh to apply to Armenian social security bodies to resume receiving pensions. YEREVAN, November 30. /ARKA/. The Armenian government has extended today until June 1, 2024 the deadline for pensioner refugees from ...
11/30/2023Armenian parliament votes to entitle Karabakh refugees to Armenian pensions and allowances
By a unanimous vote of 87 the Armenian parliament passed today in the second and final reading a set of changes to the law on pensions, entitling refugees from Nagorno-Karabakh to receiving pensions and allowances in Armenia. YEREVAN, November 22. /ARKA/. By a unanimous vote of 87 the Armenian parliament passed today in the second and final reading a set of changes to the ...
11/22/2023Refugees from Nagorno-Karabakh to receive pensions and allowances in Armenia
The Armenian government will start paying pensions and allowances to refugees from Nagorno-Karabakh, Labor and Social Affairs Minister Narek Mkrtchyan said on Tuesday. YEREVAN, November 21. /ARKA/. The Armenian government will start paying pensions and allowances to refugees from Nagorno-Karabakh,...
11/21/2023Probation Service to be made a separate type of state service in Armenia
Armenian National Assembly Committee on State and Legal Affairs on Tuesday approved a legislative initiative on making the Probation ... ... completion of which they will be able to expect a higher salary. In addition, Probation Service employees will be able to count on a pension equivalent to a military pension. The legislative initiative will be on the agenda of the parliamentary four-day session ...
11/07/2023Armenian government to create opportunity for self-employed to declare their income
... system on general grounds and the government will essentially co-finance their pension savings," Mkrtchyan said. The mandatory funded pension system was introduced in Armenia on January 1, 2014. It covers all citizens born after January 1, 1974. The pension funds are managed by two companies: C-QUADRAT Ampega Asset Management Armenia LLC and AMUNDI- -ACBA ASSET MANAGEMENT. -0-
11/07/2023Amundi-Acba makes first direct investment in equities of Armenian company
... equities of Telecom Armenia OJSC by participating in the initial public offering. The company's investment is 20% of the IPO being distributed, which is equivalent to 1,648 billion AMD. This is a precedent in nearly ten years of activity carried out by Armenian pension funds, when funds are directly invested in the real sector of the economy by acquiring shares of an Armenian company. "The investment made by Amundi-Acba not only increases the diversification of pension funds’ investments, but also gives the opportunity ...
10/20/2023Ara Avagyan appointed CEO - Chairman of VTB (Armenia) Directorate
Ara Avagyan has been appointed Director General - Chairman of VTB (Armenia) Board of Directors, the bank’s press service reported. YEREVAN, August 13. /ARKA/. Ara Avagyan has been appointed ... ... "Today VTB (Armenia) serves over 380,000 retail and 11,000 corporate clients in the country. More than 20% of the country's pension age population receive pensions on the bank's cards. We are actively developing cross-border money transfers from Russia ...
09/13/2023Minimum pension in Armenia is higher than subsistence
Armenian Prime Minister Nikol Pashinyan said at a government meeting on Friday that the minimum pension is currently higher than the subsistence , which according to him is worth now 34,825 drams (about $90). YEREVAN, August 11. /ARKA/. Armenian Prime Minister Nikol Pashinyan said at a government meeting on Friday that the minimum pension is ...
08/11/2023Amundi-Acba makes huge investment in Armenian economy
... three pension funds, benefiting from the Amundi advanced know-how, expertise and technical support. As of June 30, 2023, the assets under the management of Amundi-Acba made about 351 billion AMD. Back in 2020, Amundi-Acba invested a certain part of the pension funds in the EU-Armenia Small and Medium Enterprise Fund managed by Amber Capital Armenia. The fund invests in various companies operating in the real sector of the economy. Amber Capital Armenia is the first institutional private equity fund manager in Armenia. The ...
07/19/2023An increase in pensions in Armenia does not compensate for inflation, it is not even indexation - expert
The Armenian government's decision to raise pensions and allowances starting from July 1, 2023 not only does not compensate for inflation, but cannot even be considered indexation, says Hrant Mikaelyan, political scientist and researcher at the Caucasus Institute in Yerevan. YEREVAN, June 30....
06/30/2023More than AMD 200bln needed to equate minimum pension in Armenia with consumer basket, official says
The Armenian government will need additionally 210 billion drams a year to raise the minimum pension size to the level of consumer basket, Anahit Galstyan, head of a department at the Ministry of Labor in charge of pensions and other payments, told a press conference today. YEREVAN, June 30. /ARKA/. The Armenian government will need additionally ...
06/30/2023Armenian government raises pensions and allowances
Armenian Prime Minister Nikol Pashinyan reiterated his promise to raise the size of the minimum average pension to the size of minimum consumer and food baskets before 2026. YEREVAN, June 29. /ARKA/. Armenian Prime Minister Nikol Pashinyan reiterated his promise to raise the size of the minimum average pension to the size of minimum consumer and food ...
06/29/2023VTB (Armenia): more than 20% of pensioners receive pensions on VTB cards
The number of senior citizens in Armenia who receive their pensions on banking cards of VTB (Armenia) increased last year to 110 thousand, while the volume of transactions made by using these cards surged to 3.2 billion drams in the second half of the year, which is 8 times more than the volume of such transactions ...
02/10/2023Armenia on global financial and economic map; where to start from?
... meet to discuss Armenia's financial and economic opportunities. The objective is obvious; to have a developed economy and create financial markets, which will help position Armenia in the world economic and financial map. Amundi-Acba was founded in Armenia at 2013, by French Amundi, European leader in asset management and Acba Bank. The company manages 3 mandatory pension funds benefiting from Amundi’s advanced expertise and technical support. As of December 2022, the AUM of Amundi-Acba exceed 292 Billion AMD. Amundi-Acba is supervised by the Central Bank of Armenia. -0-
02/09/2023Opposition MP questions Armenia's economic growth numbers
A member of the Armenian parliament Tadevos Avetisyan from the opposition Hayastan (Armenia) alliance ... ... spent and is not serving a major purpose because of failed management. Yet for these funds, we pay interest in the tens of millions from the state budget," he said... ... inflation. During that period, the minimum wage and benefits were not raised, while the pension was increased by 3 times less than the minimum subsistence," he said. -0-
02/07/2023Armenian pension funds manage $1.2 billion worth assets, but their investment in economy is low
Armenian pension funds have accumulated $1.2bln worth assets, but they are not active in investing in the country's economy, Deputy Chairman of the Central Bank Armen Nurbekyan said on Tuesday. YEREVAN, February 1. /ARKA/. Armenian pension funds have accumulated $1....
02/01/2023IFC, Amundi-Acba Launch Partnership to Increase Investment in Armenia’s Infrastructure
... fund manager to join IFC's Master Cooperation Agreement, which provides a streamlined way for multiple lenders to provide financing to companies in developing countries, with IFC acting as lead arranger. Under the agreement, and within the framework of Armenia's law on pension funds, the two organizations will assess the feasibility and opportunities to finance major infrastructure projects together in Armenia. Lenders who adopt the agreement benefit from IFC's global loan syndication platform, which has raised more than $100 ...
12/21/2022Amundi-AcbA makes major investment in Armenia's real economy from pension funds (VIDEO)
... Solis solar power plant is the first project funded by Amber Capital's EU-Armenia SME Equity Fund, in which Amundi-Acba Asset Management has invested. The company made investments in the real sector of the economy from the Weighted and Conservative pension funds. Amundi-Acba's contribution accounts for about 10% of the EU-Armenia SME Fund's total resources, according to Acba Bank's press service. In 2020, the EU-Armenia SME Fund financed the construction of Solis power plant in the amount of 2.9 billion drams. Of the investment amount, some 830 million drams were the money ...
11/10/2022Head of Russian Deposit Insurance Agency about specifics of work and meetings with colleagues in Yerevan
... practical experience with Hermine Harutyunyan, Director of Deposit Insurance Fund of Armenia. That is why we treat each other with professional respect. ARKA - So, the... ... 100 thousand rubles and now it is 1 million 400 thousand rubles. Now we also insure funds of individual entrepreneurs and certain categories of small enterprises, and we... ... socially unprotected non-profit organizations. We also insure clients of non-state pension funds. We are going to take on some more new functions for different local financial...
10/12/2022C-Quadrat interested in further development of Armenia's pension system
... Austria's C-Quadrat Investment Group (C-Quadrat) Alexander Schütz, the Armenian government's press service reported. Pashinyan was said to underscore the participation of C-Quadrat (together with German Ampega Asset Management) in the management of Armenia's pension funds through C-Quadrat Ampega Asset Management Armenia. Schütz said that Armenia is a reliable partner and C-Quadrat is interested in further development of the pension system of Armenia and formation of long-term cooperation. The activity of the pension ...
10/04/2022Ardshinbank named Retail Bank of the Year by international magazine Asian Banking & Finance
... Banking & Finance, an international business publication, Ardshinbank was recognized as the Best Retail Bank of the Year in Armenia for the third consecutive time. YEREVAN, September 5, /ARKA/. According to the Asian Banking & Finance Wholesale ... ... Year in Europe. In May 2022, Ardshinbank became one of the first banks to join a government-designed program according to which pensioners and people who receive a pension with Ardshinbank cards receive 10% cashback when paying for goods and services, including ...
09/05/2022Government raises all pensions by 3,000 drams
Armenian Prime Minister Nikol Pashinyan told a government session today that the government has revised its earlier decision whereby from September 1, 2022 the pension of 97.5% of pensioners was to increase by at least 3,000 drams, the pension of 6,400 pensioners by 2,500 drams, and the pension of 5,300 by 1,900 drams. YEREVAN, Sept. 1. /ARKA/. Armenian Prime Minister Nikol Pashinyan told a government ...
09/01/2022Armenian government to raise pensions and allowances
Armenian Minister of Labor and Social Affairs Narek Mkrtchyan unveiled today a government plan that proposes to raise pensions and allowances from September 1. YEREVAN, August 24. /ARKA/. Armenian Minister of Labor and Social Affairs Narek Mkrtchyan unveiled today a government plan that proposes to raise pensions and allowances from September 1. The size of the basic ...
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