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No more cash for Armenian pensioners





Armenia's Deputy Minister of Labor and Social Affairs Tatevik Stepanyan said at a government meeting today that starting from July 1, 2021, all pensioners in the capital Yerevan and in the second and third largest towns of Gyumri and Vanadzor will start receiving their pensions on their bank cards.

The shift to a non-cash method of payment of pensions with some exceptions stems from a package of amendments to the Law On State Pensions, approved by the parliament on June 18, 2020.

According to the previous law, pensions could be paid either in cash or by a bank transfer at the choice of a citizen.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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