This agreement regulates the relations related to the rights of the citizens of member states of the Eurasian Economic Union with regard to the provision of pensions. This is what Deputy Minister of Labor and Social Affairs of Armenia Smbat Sagiyan said during a discussion on ratification of the Agreement on Provision of Pensions to Workers in Member States of the Eurasian Economic Union held as part of the session of the Standing Committee on Regional and Eurasian Integration of the National Assembly of Armenia today.

Sagiyan recalled that the Agreement was signed on December 20, 2019 in Saint Petersburg and added that the Ministry of Labor and Social Affairs finds ratification of the Agreement appropriate, taking into consideration the importance of the Agreement in the context of the new realities.

By this Agreement, the pension rights of a worker shall be exercised in accordance with the terms and procedure through which the pension rights of the citizens of other countries working within the framework of member states of the Eurasian Economic Union are exercised, that is, in the country where the citizen has gained work experience.

The amount of the pension may not be reduced, and payment may not be discontinued based on residency in another member state to the Agreement.

The pension for work experience gained upon entry into force of the Agreement shall be prescribed and paid by the member state in the territory of which the work experience was gained.

After some discussions, the parliamentary standing committee gave its approval.