YEREVAN. - Participants of the pension accumulation system in Armenia will be able to take early pension, Karen Hakobyan, Head of Securities Market Regulation Division at Central Bank of Armenia (CBA) said the aforementioned at the 4th annual Pensionary Conference in Yerevan today.

Although Armenians now retire at the age of 63, it will be possible to take pension from the accumulative account from the age of 55, but of course in line with the established criteria, he said.

Apart from this, attempt is made to involve older age citizens into the systems as well.  

The accumulative payments will fully ensure the citizens during their maternity leave. The fixed 3,000 AMD (approx. $6) will be paid by the citizens, 5,000 AMD being contributed by the state.  

Ultimately, in case of dying, the depositor’s heirs will be able to get the pensionary accumulations – both in cash and non-cash.