Armenia to switch all pensions and benefits to cashless payments from 1 April

From 1 April, all pensions and social benefits in Armenia will be paid exclusively through non-cash transactions, following government decisions aimed at regulating the transition to cashless payments.

The cabinet approved amendments and additions to a number of previously adopted decisions to ensure the non-cash disbursement of pensions and other periodic payments. These include bonuses, old-age benefits, disability benefits and survivor’s benefits.

Labour and Social Affairs Minister Arsen Torosyan said the move stems from legislation adopted in December, under which all such payments must be transferred electronically starting 1 April. The latest government decisions are intended to organise the full implementation process.

He urged all pensioners and beneficiaries to select a paying institution — a bank — and obtain a bank card by 5 March, to which their next payment will be transferred.

“If this is not done by 5 March, we will make the selection automatically,” Mr Torosyan said. “As there will be citizens who, for objective or subjective reasons, will not have completed the process, we will need sufficient time to deliver the cards to their homes.”

According to the minister, about 50,000 citizens were receiving pensions and benefits in cash at the beginning of December. As of the latest data, that number has fallen to 25,539.

He said that after automatic selections are made, authorities will ensure card distribution via courier services between 5 March and 1 April. Once delivered, citizens will receive their payments through the cards.

Mr Torosyan added that the shift to cashless payments is also being viewed as an additional source of income for citizens, pointing to cashback programmes linked to card use.

In January 2026, some 415,228 citizens received cashback, compared with 400,572 in December 2025 — an increase of around 15,000 users. Cashback payments totalled 2.9bn drams in January, up from 1.8bn drams the previous month — an increase of 1.1bn drams.

The average cashback amount stood at about 7,000 drams in January, compared with 4,400 drams in December — a rise of 2,600 drams. Since 2026, the maximum cashback amount per citizen has been set at 10,000 drams, up from 6,000 drams previously.