Thursday, 29 August 2013
Pension Payment Process Streamlined
“The government made a decision to streamline the process of pension payments,” Minister of Labor and Social Affairs Artem Asatryan told the news conference which was held today at the Government Press Center. The decision provides that each month the distribution of pensions will commence in the afternoon of the 3rd business day.
According to the Minister, a new information service - e-pension - was commissioned in June, 2013. Operational on a centralized basis, the system makes it possible to monitor database changes and ensure accuracy of information. It will drastically change the logic of creating lists and procedures.
Developed on a centralized basis, the payroll is sent electronically to local services for printing and circulating across the Haypost network. It is simultaneously made available to the banks for non-cash payments. Thus, the processing of applications is complete on the 1st business day of each month. By the end of the 2nd business day, the lists are finalized and transmitted to local departments so that the distribution may kick off in the afternoon of the 3rd working day.
