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Chairman Of Armenian Social Insurance Fund Calls Necessary Pension D

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  • Chairman Of Armenian Social Insurance Fund Calls Necessary Pension D

    CHAIRMAN OF ARMENIAN SOCIAL INSURANCE FUND CALLS NECESSARY PENSION DISTRIBUTION TERM LIMITATION

    arminfo
    2007-08-06 17:00:00

    The limitation of pension distribution term is a measure of necessity;
    Chairman of the Social Insurance Fund of Armenia Vazgen Khachikyan
    said commenting on pension distribution term restriction to 15 days
    at VTB Armenia Bank branches.

    He said the legislation provides for pension distribution within
    the following months. At the same time, the Fund has achieved the
    establishment of a month term. V. Khachikyan said pensions are
    distributed within 3 days to meet schedule. At the same time he is
    surprised that Haypost offices distribute pensions within 7 days and
    VTB Armenia Bank branched demand prolongation of the term.

    As regards regulation of the pension distribution through VTB Armenia
    Bank regional branches, V. Khachikyan said the bank is a business
    structure and has a right to extend or cut its branches. "A citizen
    chooses the structure to get his pension from," he said. However,
    some pensioners prefer receiving pensions just from the branches of
    the above bank to avoid monthly 200-500 AMD hidden charges by regional
    social service employees.

    To recall, The A.D. Sakharov Armenian Human Rights Protection Center
    NGO intends to apply to the European Court to assert the right of
    public organizations to protect the infringed rights of Armenian
    pensioners at Armenian courts. Pensioners were deprived of their right
    to receive pensions on any day convenient to them yet in 2006 after the
    State Social Insurance Fund of Armenia and VTB Bank Armenia agreed on
    limitation of the pension distribution term to 12 days. Over 525,000
    pensioners currently reside in Armenia. The number of the employed
    is 1 million 80 thousand people.
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