Retirement System in Armenia

Retirement age in Armenia is 63 years old for those who have a working experience, a number that’s remained unchanged for decades now. There are no forecasts about increasing retirement age in Armenia. Average pension size is around 50,000 AMD as of 2024. For those who do not have working experience, retirement age is 65. People coming from abroad are also eligible for pensions and can get 36,000 AMD in case they have either residency or citizenship and have grantsoum in Armenia. 

NOTE: If you plan on living in Armenia long enough to receive a pension here, please refer to the sections listed under Employment. It will give you a better sense of where you’ll be by the time you retire. If you are already paying into the pension fund, you should be receiving quarterly reports on the amount you have contributed to date. You need to work for a minimum of 10 years to qualify. Work experience is potentially calculated from the age of 16.

Early retirement can be applied for from the age of 55, so long as one has 25+ calendar years of work experience and has 15+ years of work experience in dangerous and hard labor. There are other aspects to the second point as well, and should be asked about if one has had many years of extremely dangerous work experience. One may be eligible for early retirement from the age of 59 if he/she has worked for over 25 years, over 20 years in harsh/dangerous conditions, and meets the other criteria required. Check with the Ministry of Labor for eligibility. Should an individual have worked for 35+ years and is unemployed at the age of 52, he/she is eligible for early retirement. Partial early retirement is provided to those who:

• Work in certain fields of culture and education and have done so for over 25 years (currently 55+), where over 12 years were spent in a single field

• Are actors or work in theatre, are over 50 years of age, have 25+ years of experience, out of which 12+ years were spent in their field

Medical Treatment and Insurance
While the Repat Armenia brokered medical insurance covers individuals up to the age of 70 (longer if you apply before the cutoff age), generally insurance in Armenia will not provide coverage for individuals over the age of 65. It is unfortunate, however the business side of this is understandable. There are, however, certain things the government will cover for the elderly within BBP (Basic Benefit Package):

Outpatient care

• All PHC (Primary Healthcare services): doctors, gynecologists, neurospecialists and general laboratory test (blood tests, urine tests, ultrasounds, x-rays) - most of PHC are free;

• Pharmaceutical goods procurement:  Drugs must be part of the approved essential drug list. PHC doctor referral is needed. 50% copay needed for pensioners that are alone and unemployed, pensioners that are alone and unemployed with children under 18 years in the family, children with single mothers, 70% copay for pensioners who are not working;

• Centralized distribution of pharmaceutical products by diseases: diabetes, tuberculosis, mental health, cancer and hematological (malignant form), epilepsy, hemodialysis, chronic diseases are fully covered by the Government. PHC doctor referral is needed. 

• Ambulance care: fully covered by the Government. 

Inpatient care

• Patients with the diseases approved by the MoH and classified under diseases and health statuses that need emergency care - no copayment needed. PHC facility referral not required.

• Patients with MOH approved diseases: tuberculosis, infections, mental health and narcology (PHC facility referral is not required), cancer (malignant), hematology (malignant), chemotherapy, hemodialysis - No copayment. PHC facility referral is required.

Disability Pensions
Disability Pensions are provided to those who either found themselves disabled because of the nature of their work, at which point the number of years of experience is inconsequential, or outside of work (from birth, childhood illness, natural occurrence, from natural and technical disasters), as long as they had a certain number of years of experience. The full chart is available under the Medical section. Disability pensions are added to the main pension provided, the amount based on level of disability. Those in the 1st group see a 40% increase, while those in the 2nd group see a 20% increase. 

Retirement Homes
In Armenia, most elderly stay in their homes or live with their families as they reach retirement age and beyond. There are no retirement communities as one is used to seeing in North America, and the elderly homes that exist are few and far between. They normally consist of a simple house turned into a retirement home that houses elders left without familial support, for the most part. A few you may come across are: 

• Narek Aged Home - Abovyan

• Artzvabun Elderly Home - Kapan

• Tserapartez - Yerevan

• Vortik Gyulbenkyan Elderly Care Center - Akhuryan 

• Nork Care Center  - Yerevan

• Vanadzor Elderly Home Foundation

• Yerevan Nursing Home No. 1 (Public)

• Vardenis Psychoneurologic Boarding House (Public)

Retirement Planning
Considering the deficit in retirement communities that would provide a great deal of entertainment for the elderly, it is important to start planning for your retirement early. This is the case in most countries, of course. Normally, there are three revenue streams to rely on: pensions, investments, and, should your workplace provide it, retirement benefits. The last is not common in the least when it comes to Armenia, but if you are moving from abroad, it may be an option. Costs you will have to consider:

• Will you be renting a home or owning it in Armenia?

• Monthly bills

• General living expenses as presented in the beginning

• Will you need a housekeeper?

• Will you need a visiting or live-in nurse?

Hiring help is an easy enough process in Armenia. There are many groups dedicated to the finding of caretakers and nurses, many of whom actually get paid more working for you than in a medical center. A nurses wage normally ranges around the minimum, meaning even a 20k increase is seen as quite the boon. Prices for hiring nurses and caretakers depend on what is to be expected of them. An average of 500-800 AMD an hour is to be considered, in general. The specifics will be discussed with the candidates.