Armenia to expand eligibility for Soviet-era deposit compensation in 2027

In 2027, the eligibility criteria for compensation for deposits made with the USSR Savings Bank are expected to be expanded to include individuals born on or before December 31, 1946, Armenia’s Minister of Labor and Welfare Arsen Torosyan has said.

He told lawmakers at a joint meeting of parliamentary committees discussing the 2027 state budget bill that the number of beneficiaries is expected to nearly double, increasing from approximately 5,500 to around 11,000.

“We will seek to return deposits held with the Savings Bank to more people. Currently, we are compensating those born on or before December 31, 1944, and we plan to move forward by two years at once, covering the deposits of those born on or before December 31, 1946,” Torosyan said.

According to the minister, the draft budget allocates approximately 2.1 billion drams for the “Deposits and Other Compensation” program, around 1.1 billion drams more than the approved allocation for 2026.