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Any revisions to the pension cashback programme will only involve increases, Minister of Labour and Welfare Arsen Torosyan said.
Speaking to journalists, Torosyan was responding to a question about the possible discontinuation of the programme.
He explained that the government decision governing the programme had an expiry date and that a draft to extend it was currently being circulated.
“We are currently circulating a draft decision to extend that decision by at least three years. It simply needs to have a time limit. If, after three years, we decide to change anything in it, those changes will only involve increases,” Torosyan said.
According to the minister, different approaches to raising pensions are also being discussed, including the balance between increasing the basic pension and using cashback. He noted that cashback also served to encourage cashless payments.
Torosyan said the number of people benefiting from cashback had reached 572,590, with the average amount received standing at around AMD 8,200. He said participation in the programme was increasing every month.
Journalists also raised the availability of point-of-sale terminals in shops. The minister said the cashback mechanism itself should encourage retailers to offer cashless payments, as shops providing that option gained a competitive advantage.