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YEREVAN. – The Armenian pensioners’ seniority payments will increase in 2015.

The Minister of Labor and Social Affairs, Artem Asatryan, stated the aforementioned at Friday’s 2015 State Budget draft deliberations at the National Assembly.

He noted that the average monthly pension in the country will increase by 14 percent next year and amount to 41,000 drams (approx. $100.05), against the present-day 36,000 drams (approx. $87.85).

In addition, as of January 1, 2015, the basic monthly pension will increase from 14,000 drams (approx. $34.16) to 16,000 drams (approx. $39.05), and the monthly seniority payments will increase from 700 drams (approx. $1.71) to 800 drams (approx. $1.95) for the first ten years, and increase from 450 drams (approx. $1.10) to 500 drams (approx. $1.22) for the following years.

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