Retirement age and life expectancy in different countries of the world

The global trend of recent decades has been an increase in life expectancy and a gradual increase in the retirement age (RA). This is especially typical for countries with a high level of economic and social development, which is also accompanied by an increase in the period of physiological working capacity of citizens.

Now Russia has also taken this path, although without seeing either economic growth or its “social orientation.”

However, each country has its own criteria, dynamics and age indicators; Therefore, the topic requires detailed coverage, taking into account the “geographical factor”.

Number of pensioners in Armenia

International statistics show that among all the CIS countries, Armenia has the oldest population. How many pensioners are there in Armenia? In 2018, more than 446 thousand elderly people were registered, despite the total population of the country being about 3 million people. Thus, every sixth Armenian receives pension contributions.

Hovhannes Sahakyan, head of the social security service, said that according to the Ministry of Labor, the number of pensioners will grow every year and will increase by an average of 2,500 people.

Pension system of Armenia

The retirement age in Armenia for men is 65 years, for women it is slightly lower - 63 years. Pension is calculated in three possible ways. Firstly, the state provides pension contributions for all citizens in the state budget.

There is also a mandatory savings part, which involves monthly payments by a citizen from his salary. That is, he makes contributions all the time he works. The legislation also provides for an additional savings part - a person contributes money at his own request in order to have a larger pension in the future.

The retirement age in Armenia is 63 and 65 years for women and men, but a pension can only be obtained if you have 25 years of work experience. Mandatory and voluntary contributions are transferred to funds that invest the money in investments and projects for financial gain.

Also, residents or persons of another nationality can receive pension contributions if they are not accrued in another state.

There are several categories of labor pension:

1. Upon reaching retirement age.
2. Due to disability.
3. For length of service or service to the state.
4. In case of loss of a family breadwinner.
5. Preferential or partial pension.

The second form of social payments in Armenia is a military pension for long service or due to disability. The third is considered social pension.

Retirement age by Asian countries

№	State	National currency	Pension amount	Retirement age for men and women
56	Azerbaijan	Azerbaijani manat (AZN)	Central Bank of Azerbaijan	$176	63,5-60,5
57	Armenia	Armenian dram (AMD)	Central Bank of Armenia	$84	63-63
58	Afghanistan	Afghan Afghani (AFN)	Yes Afghanistan Bank	only civil servants	65-65
59	Bangladesh	Bangladeshi Taka (BDT)	Bangladesh Bank	$6	65-62
60	Bahrain	Bahraini Dinar (BHD)	Central Bank of Bahrain	min. $500	60-55
61	Brunei	Brunei dollar (BND)	UDOB	$3500	60-60
62	Butane	Ngultrum (BTN)	HLC Bhutan	only 3% receive a pension	n.d.
63	Vietnam	Dong (VND)	GB of Vietnam	$165	60-55
64	Hong Kong	Hong Kong dollar (HKD)	Hong Kong parole	$315	65-65
65	Georgia	Lari (GEL)	National Library of Georgia	$75	65-60
66	Israel	Shekel (ILS)	Bank of Israel	$1532	67-62
67	India	Indian Rupee (INR)	RB India	$30	60-60
68	Indonesia	Indonesian Rupiah (IDR)	Bank Indonesia	$140	58-58
69	Jordan	Jordanian Dinar (JOD)	Central Bank of Jordan	$	66-66
70	Iraq	Iraqi Dinar (IQD)	Central Bank of Iraq	$80	60-60
71	Iran	Iranian rial (IRR)	Central Bank of Iran	$191	60-55
72	Yemen	Yemeni rial (YER)	Central Bank of Yemen	n.d.	n.d.
73	Kazakhstan	Tenge (KZT)	NB RK	$212	63-58
74	Cambodia	Cambodian riel (KHR)	National Library of Cambodia	$200	55-50
75	Qatar	Qatari Rial (QAR)	Central Bank of Qatar	individually	60-55
76	Kyrgyzstan	Kyrgyzstani som (KGS)	National Library of Kyrgyzstan	$69	63-58
77	China	Chinese Yuan (CNY)	National Bank of China	$170	60-60
78	DPRK	North Korean won (KPW)	Central Bank of the DPRK	$30	60-55
79	Kuwait	Kuwaiti Dinar (KWD)	Central Bank of Kuwait	$3000	55-50
80	Laos	Laotian kip (LAK)	Bank of Lao PDR	n.d.	67-64
81	Lebanon	Lebanese pound (LBP)	Bank of Lebanon	no pensions	No
82	Macau	Pataca Macau (MOP)	UDOM	min. $100	65-65
83	Malaysia	Malaysian ringgit (MYR)	Bank Negara Malaysia	$	60-60
84	Mongolia	Mongolian Tugrik (MNT)	Bank of Mongolia	min. $105	60-55
85	Myanmar	Myanmar Kyat (MMK)	Central Bank of Myanmar	$8	n.d.
86	Nepal	Nepalese Rupee (NPR)	Nepal Rastra Bank	$19	70-70
87	UAE	UAE Dirham (AED)	Central Bank of the UAE	$2776	25 years of experience - 25 years of experience
88	Oman	Omani rial (OMR)	Central Bank of Oman	only civil servants	60-55
89	Pakistan	Pakistani Rupee (PKR)	GB of Pakistan	only civil servants	n.d.
90	The Republic of Korea	South Korean won (KRW)	Bank of South Korea	$753	60-60
91	Saudi Arabia	Saudi Riyal (SAR)	ADO SA	$2500	60-55
92	Singapore	Singapore dollar (SGD)	DKUS	$431	62-62
93	Syria	Syrian pound (SYP)	Central Bank of Syria	$37	54-54
94	Tajikistan	Tajikistani somoni (TJS)	National Library of Tajikistan	$29	63-58
95	Thailand	Baht (THB)	Bank of Thailand	$225	55-55
96	Taiwan	Taiwan dollar (TWD)	Central Bank of the Republic of China (Taiwan)
97	Turkmenistan	Turkmen manat (TMT)	Central Bank of Turkmenistan	$140	62-57
98	Türkiye	Turkish lira (TRY)	Central Bank of TR	$1329	60-58
99	Uzbekistan	Uzbek sum (UZS)	Central Bank of the Republic of Uzbekistan	$63	60-55
100	Philippines	Philippine Peso (PHP)	Central Bank of the Philippines	$30	35-35
101	Sri Lanka	Sri Lankan Rupee (LKR)	Central Bank of Sri Lanka	individually	55-50
102	Japan	Japanese Yen (JPY)	Bank of Japan	$1700	62-62

Minimum and average pension

At the end of 2020, Prime Minister of Armenia Nikol Pashinyan announced an increase in the minimum pension. From January 1, it was supposed to be 600 euros, which is more than 300 percent higher than last year. According to the politician’s comments, this level of minimum pension in Armenia in 2020 will improve the well-being of citizens and put the country on the path to European development.

However, later the Prime Minister had to apologize to citizens for failing to raise social payments to the promised level. The monthly pension in Armenia was 550 euros (about 40,000 in rubles), which is 50 euros less than what the government promised. He cited a 20 percent reduction in the cost of utilities as one of the reasons, while the IMF offered good loan conditions only for a 10 percent reduction. When asked what the average pension is in Armenia in 2020, the Prime Minister said - from 550 to 1000 euros.

In the next 5 years, the government promised to raise the indicator to the level of Germany, France and other leading European countries. An annual pension increase of 100-200 euros is planned.

An additional bonus for length of service is also provided for the minimum deduction amount, which increases the final amount. Also, the total amount of the pension can be increased due to the voluntary funded part.

There are 2 voluntary savings funds that promise to increase the investment size by 5 percent:

There are no plans to raise the retirement age in Armenia for women and men in the next 5 years.

Retirement age by European countries

№	State	National currency	Pension amount	Retirement age for men and women
1	Austria	Euro (EUR)	ECB	$1540	65-60
2	Andorra			min. $1200	65-65
3	Belgium			$1280	64-61
4	Germany			$849	66-66
5	Greece			$768	67-67
6	Ireland			$1178	66-66
7	Spain			$1099	65,5-65,5
8	Italy			$1320	67-67
9	Cyprus			$815	65-65
10	Latvia			$304	64-64
11	Lithuania			$408	64-62,5
12	Luxembourg			$3350	65-65
13	Malta			$600	62-62
14	Monaco			individually	65-65
15	Netherlands			$1418	66,5-66,5
16	Portugal			$600	66,5-66,5
17	San Marino			$1200	65-65
18	Slovakia			$502	62,5-62,5
19	Slovenia			$750	60-59,5
20	Finland			$1780	63-63
21	France			$1090	62-62
22	Montenegro			$320	64-59
23	Estonia			$544	63,5-63,5
24	Albania	Albanian Lek (ALL)	Bank of Albania	$164	65-61
25	Belarus	Belarusian ruble (BYN)	NBB	$199	61,5-56,5
26	Bulgaria	Bulgarian Lev (BGN)	BNB	$251	64-61
27	Bosnia and Herzegovina	Convertible Mark (BAM)	Central Bank of BiH	$200	65-65
28	Great Britain	Pound sterling (GBP)	Bank of England	$685	65,5-65,5
29	Hungary	Hungarian Forint (HUF)	National Library of Hungary	$438	63,5-63,5
30	Gibraltar	Gibraltar pound (GIP)	Treasury of Gibraltar	$160-600	65,5-65,5
31	Denmark	Danish krone (DKK)	National Library of Denmark	$3087	65-65
32	Iceland	Icelandic krona (ISK)	Central Bank of Iceland	$1550	67-67
33	Moldova	Moldovan Leu (MDL)	National Library of Moldova	$106	63-58
34	Norway	Norwegian krone (NOK)	Norwegian bank	$1584	62-62
35	Poland	Polish zloty (PLN)	National Library of Poland	$538	65-60
36	Romania	Romanian leu (RON)	National Library of Romania	$190	65-61
37	Russia	Russian ruble (RUB)	Bank of Russia	$220	60,5-55,5
38	North Macedonia	Macedonian Dinar (MKD)	National Library of Macedonia	$160	64-62
39	Serbia	Serbian Dinar (RSD)	National Library of Serbia	$220	65-62
40	Ukraine	Hryvnia (UAH)	NBU	$124	60-59,5
41	Czech	Czech crown (CZK)	National Library of the Czech Republic	$460	63,5-62,5
42	Croatia	Croatian Kuna (HRK)	Croatian NB	$365	65-62
43	Sweden	Swedish krona (SEK)	Bank of Sweden	$1865	61-61
44	Switzerland	Swiss franc (CHF)	National Library of Switzerland	$2046	65-64

Benefits and social benefits in Armenia

Social benefits are provided not only for citizens of Armenia, but also for the following category of persons:

• refugees from other countries;
• stateless persons.

The third category is people who have received the appropriate status of residence in Armenia. However, such benefits differ from regular pension accruals. They can be paid for a certain period, or in the form of a one-time social assistance payment. Also in Armenia, benefits are paid for child care, funeral and in emergency cases.

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If a family is listed as unsecured and is registered with social authorities, and there are children under 18 years of age, they are awarded a family allowance. To do this, the cost of living must be less than a certain income.

Emergency assistance is paid in the event of death, the birth of a child, or to families who are unable to provide for a child to attend the 1st grade of school. The quarterly benefit will be issued once every 3 months in the presence of pensioners and in a number of other cases (seriously ill family members, students, unemployed and others).

The minimum pension in Armenia in 2020 increased significantly compared to other years. This was influenced by the government's decision on the European path of integration. The figures presented in the article about how pensioners live in Armenia demonstrate the situation and allow us to compare it with their own country.

Armenia average pension

Pension in Armenia

The retirement age in Armenia for women is 63 years, and for men - 65 years. In total, there are almost 500 thousand pensioners in the country with a population of about 3 million people. This country with a well-developing economy is part of the Customs Union and has long-standing ties with Russia, where many Armenians make their living.

Retirement age by North American country

№	State	National currency	Pension amount	Retirement age for men and women
103	Bahamas	Bahamian dollar (BSD)	Central Bank of the Bahamas	$240	65-65
104	Belize	Belize dollar (BZD)	Central Bank of Belize	$50	67-65
105	Bermuda	Bermudian dollar (BMD)	Parole Bermuda	$450	65-65
106	Haiti	Haitian Gourde (HTG)	Bank of the Republic of Haiti	No	No
107	Honduras	Honduran Lempira (HNL)	Central Bank of Honduras	No	No
108	Grenada	East Caribbean Dollar (XCD)	Eastern Caribbean Central Bank	separate categories	n.d.
109	Dominican Republic	Dominican Peso (DOP)	Central Bank of the DR	one-time payment (1 salary for 1 year of experience)	from 20 years of experience
110	Canada	Canadian dollar (CAD)	Bank of Canada	$505	65-65
111	Costa Rica	Costa Rican colón (CRC)	Central Bank of Costa Rica	OK. 60% of salary	62-61
112	Cuba	Cuban Peso (CUP)	Central Bank of Cuba	$4	68-65
113	Mexico	Mexican Peso (MXN)	Bank of Mexico	individually	65-65
114	Nicaragua	Nicaraguan Cordoba (NIO)	Central Bank of Nicaragua	n.d.	n.d.
115	Panama	Panamanian Balboa (PAB)	NB of Panama	$120	65-65
116	Saint Vincent and the Grenadines	East Caribbean Dollar (XCD)	Eastern Caribbean Central Bank	n.d.	n.d.
117	USA	US dollar (USD)	Fed	$1503	66-66
118	Jamaica	Jamaican dollar (JMD)	Bank of Jamaica	$8	60-60

Republic of Armenia

Armenians are one of the most ancient peoples on the planet. The formation of the first Armenian state in this territory dates back to the 6th century. BC e. This is a country where Christianity became the state religion earlier than in any other state on the planet. Nowadays it is a unitary state, 95% of the population of which are Armenians. It borders with Turkey, Georgia, Iran, Azerbaijan and the unrecognized Nagorno-Karabakh. It has no common border with Russia and no access to the sea.

Armenia is a mountainous country, 90% of its territory is located at an altitude of 1000 m above sea level. The symbol of the country is Mount Ararat, the highest point in the region, but it is located in Turkey. This state is home to the largest source of fresh water in Transcaucasia - Lake Sevan.

Thanks to reforms carried out in the 1990s, the Armenian economy has developed steadily, growing by 10% annually. However, in 2009, there was a serious decline due to the fact that cash receipts from Armenians working abroad decreased significantly. Indeed, a significant part of Armenians work abroad, and a large number of them are in the Russian Federation. Armenia is among the top ten countries in the world in terms of emigration rates.

Pension system of Armenia

Pension in Armenia is provided as follows:

1. State pension, which is guaranteed by the country's budget.
2. Mandatory funded part, carried out through deductions from earnings during the period while the future pensioner is working.
3. A voluntary savings part, formed from those contributions that the future pensioner deducts to increase his pension.

Mandatory and voluntary parts are invested in appropriate funds, which invest these funds in various financial projects. You can receive an old-age pension in Armenia if you have 25 years of work experience. A non-citizen of the country can receive pension benefits if he does not receive it at his place of citizenship.

Pensions in Armenia in 2020 are established by law as follows:

1. By age and disability.
2. Due to the loss of a breadwinner.
3. For years of service.
4. Partial and with benefits.

Conditions for funded pension in Armenia

In addition to the labor pension, there is also a military pension, which includes:

1. For length of service and disability.
2. In the event of the death of the breadwinner.

The third form of pension payments is social:

1. In case of loss of a breadwinner.
2. For old age and disability.

Each of these forms involves a certain number of payments, but the minimum pension is 6,000 rubles per month.

Plus a bonus for length of service, and the total is about 8,000 rubles. The amount of this pension can be increased due to the voluntary funded part, which is placed in Amundi and C-Quadrat.

The first fund is of French origin, and the second is German. They promise to increase the percentage of voluntary investments to 5, and the Armenian state promises another 5%. The result should be a sufficient amount for a comfortable life in retirement.

Saving system rules

Retirement age by Oceania countries

№	State	National currency	Pension amount	Retirement age for men and women
45	Australia	Australian dollar (AUD)	RB Australia	$327	65,5-65,5
46	Vanuatu	Vanuatu Vatu (VUV)	RB Vanuatu	No	No
47	Kiribati	Australian dollar (AUD)	RB Australia	$36	67-67
48	Marshall Islands	US dollar (USD)	Fed	n.d.	n.d.
49	Micronesia	US dollar (USD)	Fed	No	No
50	Nauru	Australian dollar (AUD)	RB Australia	n.d.	n.d.
51	New Zealand	New Zealand dollar (NZD)	RB NZ	$385	65-65
52	Palau	US dollar (USD)	Fed	n.d.	n.d.
53	Samoa	Samoan Tala (WST)	Central Bank of Samoa	$59	65-65
54	Tuvalu	Australian dollar (AUD)	RB Australia	n.d.	n.d.
55	Fiji	Fijian dollar (FJD)	RB Fiji	$23	68-68

Benefits and allowances

Not only citizens of this country, but also the following have the right to receive benefits in Armenia:

1. Stateless persons.
2. Foreigners with appropriate residence status.
3. Refugees.

The difference between a benefit and a pension is that it is provided either for some time or in the form of a lump sum payment. The following types of benefits exist in Armenia:

1. Child care up to two years old.
2. Family.
3. At the birth of a child.
4. To the families of the National Heroes of Armenia who died in the line of duty.
5. Social.
6. For burial.
7. In case of emergency.
8. For old age and disability.
9. In case of loss of a breadwinner.

How does the accumulative system work during parental leave?

Family benefits are issued to those who have family members under 18 years of age, in cases where the family is registered with social authorities as unsecured. Social benefits are also received by a vulnerable family, but in which there are no children under 18 years of age. In both cases, payments are made when families' income does not exceed the subsistence limit established by the government.

Emergency assistance, which comes in two types: quarterly and one-time, is provided in the following cases:

• Death of a family member.
• Birth of a child.
• For those who cannot buy everything necessary for a child going to first grade.

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You can receive emergency assistance for the birth of a child if you are currently eligible to receive family benefits. This rule also applies to those who ask for funds to purchase supplies and clothing for a child entering first grade. The same applies to one of the family members.

These cases of receiving benefits exclude family and social benefits. In other words, you cannot receive family assistance and, for example, childbirth benefits at the same time.

These rules apply to lump sum benefits. Quarterly benefits, i.e., what is issued within three months, can be received in the following cases:

• If there are children and pensioners in the family.
• One of the family members is seriously ill for a long time.
• If there are students and unemployed in the family.
• When housing is partially or completely destroyed as a result of a fire, natural disaster, utility disaster, etc.

How are social payments made under the savings system?

Parents who have not refused it can receive a one-time child benefit. But you must submit a corresponding application to the social protection authorities within a year after birth.

Each spouse can apply for child care benefits for children under two years of age. It will be paid until the child turns two years old.

But if the parents or child leaves the Republic of Armenia for more than six months, then the payment of benefits stops.

Those who do not have a pension and have reached the age of 65 are entitled to old-age benefits. Disability benefits are received by those who are not entitled to a corresponding pension. A survivor's benefit is paid in the following cases:

• At the time of the death of the breadwinner, any of the children were under 18 years of age. Once this is achieved, the payment of benefits stops.
• An adult child (up to 23 years old) is a full-time student.
• The surviving spouse after death takes care of the child under 14 years of age.

The amount of benefits is reflected in the table presented.

Retirement age by African countries

№	State	National currency	Pension amount	Retirement age for men and women
126	Algeria	Algerian Dinar (DZD)	Bank of Algiers	$	60-60
127	Angola	Angolan Kwanzaa (AOA)	National Library of Angola	No	No
128	Benin	West African Franc (XOF)	Central Bank ZAG	No	No
129	Botswana	Botswana Pula (BWP)	Bank of Botswana	$32	65-65
130	Burkina Faso	West African Franc (XOF)	Central Bank ZAG	n.d.	n.d.
131	Burundi	Burundian franc (BIF)	BRB	No	No
132	Guinea	Guinean franc (GNF)	Central Bank of the Republic of Guinea	No	No
133	Egypt	Egyptian pound (EGP)	Central Bank of Egypt	$50	65-65
134	Zambia	Zambian Kwacha (ZMW)	Bank of Zambia	$11	60-60
135	Zimbabwe	US dollar, pound sterling, rand (ZWL)	RB Zimbabwe	No	No
136	Cameroon	Central African Franc (XAF)	GCA Bank	No	No
137	Kenya	Kenyan shilling (KES)	Central Bank of Kenya	$19	70-70
138	Congo	Congolese franc (CDF)	Central Bank of Congo	only civil servants	n.d.
139	Ivory Coast	West African Franc (XOF)	Central Bank ZAG	n.d.	n.d.
140	Libya	Libyan Dinar (LYD)	Central Bank of Libya	n.d.	n.d.
141	Mauritius	Mauritian Rupee (MUR)	Bank of Mauritius	$140	60-60
142	Mauritania	Mauritanian ouguiya (MRU)	Central Bank of Mauritania	n.d.	n.d.
143	Madagascar	Malagasy Ariary (MGA)	Central Bank of Madagascar	No	No
144	Morocco	Moroccan Dirham (MAD)	Bank al-Maghrib	min. $65	62-62
145	Mozambique	Mozambican Metical (MZN)	Bank of Mozambique	$7	60-55
146	Namibia	Namibian dollar (NAD)	Bank of Namibia	$75	60-60
147	Nigeria	Nigerian Naira (NGN)	Central Bank of Nigeria	$20	65-65
148	Rwanda	Rwandan Franc (RWF)	National Library of Rwanda	No	No
149	Seychelles	Seychelles Rupee (SCR)	Central Bank of Seychelles	$143	63-63
150	Senegal	West African Franc (XOF)	Central Bank ZAG	n.d.	65-65
151	Somalia	Somali Shilling (SOS)	Central Bank of Somalia	n.d.	n.d.
152	Sudan	Sudanese pound (SDG)	Central Bank of Sudan	No	No
153	Tanzania	Tanzanian Shilling (TZS)	Bank of Tanzania	No	No
154	Tunisia	Tunisian Dinar (TND)	Central Bank of Tunisia	$150	60-60
155	Uganda	Ugandan shilling (UGX)	Bank of Uganda	$7	60-60
156	Chad	Central African Franc (XOF)	GCA Bank	No	No
157	Equatorial Guinea	Central African Franc (XOF)	GCA Bank	n.d.	n.d.
158	Ethiopia	Ethiopian birr (ETB)	National Bank of Ethiopia	No	No
159	South Africa	South African rand (ZAR)	SARB	$70	60-60

Note: in some countries that indicate the absence of a pension, formally there is one, but only for a very small circle of people. For example, in Cameroon, 13.54% of residents aged 65+ receive a pension, Zimbabwe - 6.21%, Rwanda - 4.70%, Chad - 1.60%. Therefore, we classified these and other similar countries as those that do not have a pension system.

For some countries there is no information or it varies greatly depending on the sources, which gives rise to doubt. For example, what kind of pension can we talk about in Somalia or Libya, where there is no central government in a significant territory of the state and most state institutions do not actually work?

The minimum pension in Armenia from January 1, 2020 will be 600 euros

The minimum pension in Armenia from January 1, 2020 will increase by 360% and amount to 600 euros. As Prime Minister Nikol Pashinyan reports on his Facebook page, this amount will help bring the country to the European level of development and improve the well-being of the population.

“Armenia has firmly taken the path of European integration. How can there be integration without high salaries and pensions? We will take this step in January. In the next year, our pensions will not be able to compete with German or French ones, but in 5 years you will see a prosperous European Armenia. I will not say in the words of the prime ministers of countries with unimportant economies that there is no money. There is money,” the head of government wrote.

The government also plans to index other social payments. After the January indexation, pensions of Armenian citizens will be 600-2000 euros, and salaries will be 1000-5000 euros. In the future, it is planned to increase pensions and salaries annually by 100 and 200 euros, respectively.

The minimum pension in Armenia from January 1, 2020 will increase by 60% to 25,500 drams

YEREVAN, September 12. /ARCH/. The minimum pension in Armenia will increase by 60% from January 1, 2020, amounting to 25,500 drams (about $52.5). As Mesrop Arakelyan, adviser to the Prime Minister of Armenia on economics, reports on his Facebook page, this amount exceeds the food poverty threshold.

As Arakelyan noted, this decision has not yet been made. This is a legislative draft that is in circulation.

“There will no longer be extremely poor pensioners in Armenia. The government is doing its utmost to ensure a dignified and prosperous old age,” Arakelyan wrote.

According to the National Statistics Committee, as of July 1, 2020. The number of pensioners in Armenia amounted to 461,068 people. The average pension amounted to 40,548.7 drams.

Retirement age by South American country

№	State	National currency	Pension amount	Retirement age for men and women
119	Argentina	Argentine Peso (ARS)	Central Bank of Argentina	$400	65-60
120	Bolivia	Boliviano (BOB)	Central Bank of Bolivia	min. $68	58-55
121	Brazil	Brazilian real (BRL)	Central Bank of Brazil	$278	65-62
122	Colombia	Colombian Peso (COP)	Bank of the Republic	$32	59-54
123	Paraguay	Paraguayan Guarani (PYG)	Central Bank of Paraguay	$82	65-65
124	Peru	Peruvian Sol (PEN)	Central District Hospital of Peru	$38	65-65
125	Chile	Chilean Peso (CLP)	Central Bank of Chile	$198	65-60

“Where is this line?”: the minimum pension will increase in Armenia from 2020

YEREVAN, December 31 – Sputnik. Minimum pensions and benefits in Armenia will increase from 2020. The Armenian government made a decision on this in November.

The current 16 thousand ($33) will rise to 25.5 – that is, to the food poverty line. In total, approximately 80 out of 460 thousand pensioners will benefit from the increase.

How can we determine where exactly this line lies? Sputnik Armenia addressed this question to acting. O. Prime Minister Nikol Pashinyan, at his last press conference.

The fact is that in Armenia there is still no official food and consumer basket. Back in 2004, the law “On the minimum basket and minimum life support budget” was adopted. It contained a reference: the composition and calculation of this basket must be approved by the government, but over all these years the requirement of the law has not been fulfilled.

“The previous government did not want its social policy to be clearly measurable. It’s easier to escape responsibility this way, but we are not going to leave,” Pashinyan said.

When asked when this basket will begin to be calculated, Pashinyan replied: “We will make such a decision.”

The minimum basket is informally calculated by the National Statistics Committee of Armenia. The words “informally” mean that the government does not link the minimum wage, pensions and benefits to it.

Two such baskets are calculated: according to the methodology of the Ministry of Health and according to actual household surveys using the methodology of the World Bank. The basket, based on the Ministry of Health data, includes: bakery products (355 grams), including bread (250), pasta (150), rice (50), beans (20). Other products include beef (100 g), milk (200), cheese (25), butter, including vegetable oil (30), potatoes (250), cabbage and onions (300), apples (200). According to data from the 3rd quarter of 2018, such a basket costs approximately 34 thousand drams per month (more precisely, 33,931 drams, or in terms of 70 dollars).

To create a consumer basket, you need to add non-food goods and services, including utilities. They are not calculated separately; they simply multiply the food basket by 1.77. Based on the results of the same 3rd quarter, it turns out to be 60 thousand drams (60,057, or, in conversion, about 125 dollars).

But the actual surveys differ from the Ministry of Health database, and not for the better: they eat more bread, less meat and fruit.

They eat not 355, but 460 grams of bread, pasta and cereals per day, and not 100 grams of meat, but a little less than 50. They eat a little more than 110 grams of fruit instead of 200, and vegetables - 200 grams instead of 300. And such a shortage appears on the table not only among pensioners.

One way or another, life will become a little easier for the poorest pensioners (and their children with them) from 2020.

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There will be no pension below 25,500 drams in Armenia

The Ministry of Labor and Social Affairs of Armenia presented the draft “On introducing amendments and additions to the RA Law “On State Pensions””, which proposes to set the minimum pension at 25,500 drams from January 1, 2019.

The goal of the project is to overcome extreme poverty among pensioners.

Let us note that according to the current legislation in Armenia, the basic pension is 16 thousand drams. Added to this are bonuses for length of service - 800 drams for the first 10 years and 500 for the rest.