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Citizens of Armenia can transfer their pension savings in foreign countries to local accounts

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07.07.2018
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Citizens of Armenia - members of the funded pension system can apply for transferring their savings in a foreign country, to a local account.

Minister of Labor and Social Affairs of Armenia Mane Tandilya signed  an order according to which the procedure for transferring pension  savings on pension accounts of the accumulative pension system of  Armenian citizens working in a foreign country to accounts opened in  the territory of Armenia was established in case of the return of an RA citizen to the republic and (or) for the purpose of permanent  residence. The document also establishes the procedure for providing information on the establishment of disability of the third degree of limitation of ability to work. The decision was made on June 13 and will come into force on July 12.

As explained in the press service of the Ministry, the beneficiary of the accumulative pension system in Armenia can apply for the transfer of its pension savings from the pension accounts of the accumulative pension system of a foreign state to the local accounts of the funded pension system, if allowed by the law of the country.

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