State pension to rise 15% in 2014

The average retirement pension in Armenia will rise by 15% from January 1, 2014. Armenian Minister of Labor and Social Issues Artem Asatryan told the cabinet meeting that the state pension will be increased from AMD 31,000 to AMD 36,000. 

The government set the basic pension at AMD 14,000. During the first 10 years, the length of service will amount to AMD 700 per year, while further, it will amount to AMD 450.