FAQ

1. My account of Central Depository of Armenia, if you have ID card and card reader, you need:
   
• Connect the identification card reader to the computer and insert your identification card into the device
• Enter the PIN code provided with the identification card
• Go to "My Applications" section, select "Request for Mandatory Pension Fund and Pension Fund Manager" application and fill it out
• After completing the application, click the "Save" button and then the "Accept" button.
2. If you have Mobile Identification card (mID), you need:
• Click the "Verification" button
• Click the "Identification" button
• Choose the "Mobile Identification Card" option
• Enter phone number
• Click the "Log in" button
• Select "Confirm" in the window that opens on the mobile phone
• Enter the PIN code
• Take the necessary actions
3. Through CDA Online application (if there is a securities account).
4. Through Converse Mobile application.
5. Through AraratMobile application.
6. Through Account Operators

- Visit one of the following Account Operators, present ID card or passport and public service number (social security card)




Account Operators are:

Tel: (+374 10) 51 45 14   Head Office and Branches
Tel: (+374 10) 59 23 23   Head Office and Branches




          Tel: (+374 10) 51 12 11   Head Office and Branches

        

          Tel: (+374 12) 22 22 22   Head Office and Branches




                Tel: (+374 10) 59 20 20   Head Office and Branches
                             Tel: (+374 12) 22 22 22   Head Office and Branches

After receiving the cumulative allocations for the first time, the Central Depository of Armenia opens a pension account for a person who has just joined the system. In case of non-selection of the pension fund by the participant within 30 days, the selection of the pension fund is made through the software module on the working day following the set term.

However, the participant can choose his / her pension fund at any time, moreover, the participant can cumulate in different pension funds, but directing the new allocations to the last selected fund.

According to the RA Law on Pensions Funds, the monthly amount of pension fund is determined on the basis of the pension fund's funds available on the participant's pension account and on the period of receiving the participant's pension fund's funds.

The period of receiving pension fund accumulations is determined by subtracting the average life expectancy (currently 76 years old) from the months converted to the retirement age (63 years old) ․

For example, at the time of retirement, a participant has accumulated 20 million drams in his / her pension account, the period of calculation of pension fund is equal to (76-63) * 12 = 156 months, where 76 is the average life expectancy, 63 is the retirement age, and 12 is the months of the year. The amount of the participant's monthly pension is 20000000/156 = 128205 AMD.

Depending on the total settlement value of the accumulative pension fund (funds) in the participant's pension account, the participant can receive his accumulative pension in the following ways:

1)According to the Law on pension funds, if the participant's funds when converted into equal monthly payments are less than or equal to 75% of the basic pension, then the participant is eligible to receive the pension fund accumulations in the form of an annuity or program payments or a lump sum payment.

2) If the participant's funds when converted into equal monthly payments, the monthly amount is greater than 75% of the basic pension, but five times less or equal to that pension, then the participant is obliged to sign an annuity agreement in the amount received as a result of repayment of pension fund shares.

3) If the participant's funds, in accordance with the law, when converted into equal monthly payments, the monthly amount exceeds five times the basic pension, the participant is obliged to sign an annuity agreement at the expense of the funds received as a result of the repayment of a part of his / her pension fund. The monthly amount will be five times the basic pension, and the rest of the participant is entitled to receive an annuity or program payments or a lump sum payment. Annuity contracts are required to provide a lifetime pension.

Get acquainted to the calculation order through the other question.

The participant has the right to choose one pension fund. Cumulative allocations may not be directed to more than one pension fund in favor of the participant during the same period at a time. However, in order to accumulate in different funds, the participant is free to choose a new fund, leaving those acquired shares in the previous fund.

The participant can change the fund manager only once a year for free of charge.

If the participant is 55 years old, and in his / her pension account the total estimated value of the pension fund shares when converting into equal monthly (252 months) payments, the monthly amount exceeds five times the basic pension, then the participant must sign an annuity agreement, which will provide the latter with the right to a lifelong pension. The rest of the funds the participant is entitled to receive by annuity, program fees or lump sum payment.

You can get information on your pension account through 3 ways․

1. Via ArCa application or ATMs, where information on the last 10 transactions is reflected

2. You can obtain more detailed information for your preferred period through Account Operators by presenting only an ID card or passport and public service number

3. With the help of "My Account" system available on the Central Depository of Armenia website, if you have an ID card or a card reader. 

You can get information about the net amount available in the pension account through your mobile banking.

In case of death of the participant, the shares of the pension funds in his / her pension account by his / her choice:

1. either is transferred to the latest pension account,

2. or are repaid, and the proceeds of the repayment are paid to the heir in the form of a lump sum payment.

A pension fund shares are a security that certifies that you are a shareholder in a pension fund. Shares are your property from the moment of acquisition.

An asset manager company (or "asset manager") is an independent company that manages investment instruments called Funds.

Individuals (investors) can buy shares of the Fund with the objective to invest their savings. The Asset Manager manages the Fund by investing the cumulative allocations received from all investors in a particular pool of assets (including cash, stocks, bonds, etc.). The Asset Manager provides services to the Fund(s) and investors.

The fund's investments are owned by investors. They are not owned by the management company. The Asset Manager is obliged to manage the assets of the Fund in accordance with the Fund's formerly mentioned investment objectives and guidelines (Fund rules), as well as in accordance with the rules established by law and Regulations.

Our Balanced, Conservative and Fixed Income Funds have been created within the framework of the Republic of Armenia mandatory pension fund system. The funds differ from each other in the share of investments in equity securities.

1. Balanced Fund (AMBAL)․ Risk level: high

Investments: equity securities ≤ 50%, fixed yield instruments ≥ 50%

2. Conservative Fund (AMCON)․ Risk level: average

Investments: equity securities ≤ 25%, fixed income instruments ≥ 75%

3. Stable Income Fund (AMFIX)․ Risk Level: Low 

Investing: Fixed Yields 100%

You can get detailed information about our investments in your favor through quarterly and annual reports published on this website, as well as through the investment structure available on the funds' pages and updated on a monthly basis.

According to the RA Law on Pension Funds, only up to 40% of fund assets can be invested in foreign currency, which indicates that, at least, 60% of the fund assets are invested in the Republic of Armenia in AMD.

With cumulative contributions in favor of the participants, the managers acquire shares of foreign bonds and / or equity funds, which include bonds and / or shares of hundreds of well-known companies (you can get acquainted with well-known companies' list through the fund reports and and discover that your funds directly and indirectly are invested in the most popular companies.

In other words, your funds are not invested in shares or bonds of only a few companies, but they are diversified through investment funds, thanks to which you do not bear the risk of bankruptcy of any company.

Your pension fund investment funds are reinvested. That is to say, the interest is accumulated on the principal amount and is added to the previously cumulated income.

Availability

Europe's leading asset manager’s

- Advanced experimentation (know-how),

- Investment strategy and

- Risk management mechanisms.

Our professional potential

- Paris-based investment expert teams, 2 of which operate in Yerevan,

- Paris-based analytical teams, 1 Amundi-trained analyst working in Yerevan,

- Supporting, supervisory teams, 3 of which operate in Yerevan.

Amundi-Acba has completely localized Amundi's experience.

Amundi is represented in 35 countries, however, in the region only in Yerevan.

What is ESG and why is it important for business?

The success of business today is no longer solely tied to financial profit. More and more companies are prioritizing their impact on nature, society and effective management. This is the focus of ESG (Environmental, Social, Governance principles. 

Environmental principles (E)

ESG primarily addresses environmental issues. This includes: 

• Reducing carbon emissions, 

• Using energy efficiently, 

• Managing and recycling waste, 

• Preserving natural resources.

By minimizing their environmental impact, companies not only contribute to the planet’s well-being but also save resources and improve their reputation.

Social Principles (S)

The social component focuses on people and communities. This encompasses:

• Employee health and well-being,

• Promoting diversity,

• Creating equal opportunities,

• Implementing community support projects.

Socially responsible companies build greater trust among both their employees and customers.

Governance Principles (G)

The governance pillar of ESG relates to an organization’s leadership practices, ensuring fair and transparent management. This includes:

• Combating corruption,

• Adhering to ethical standards,

• Ensuring transparent reporting,

• Adopting inclusive leadership models.

Why adopt ESG principles?

Adopting ESG helps companies: 

• Mitigate risks, 

• Attract more investment, 

• Ensure long-term sustainability, 

• Enhance their impact on the world. 

Nowadays, ESG principles have become essential for businesses, ensuring not only financial success, but also a positive impact on the world.