The financial burden and social factors are a barrier for full retirement in Armenia.

This is mentioned in HSBC “The Future of Retirement Healthy new beginnings” report.

In addition to the challenges and trends in other countries, retirees in Armenia face some other issues – inadequate pension amounts (average AMD 41,000 in 2015) compared to minimum consumer basket (AMD 56,200).
 
According to the report, the working retirees comprise 15% of the whole retired population in Armenia, and given the level of this additional income they can afford to consider travel or pursuing other interests.

Meanwhile, the retirees with pension being their primary source of income have lower than minimum living standards.

“Their pension is mainly spent on primary needs such as food and utility payments, while healthy lifestyle, travel and other aspects of social life usually get pushed into the background”, the report states.

“Today, with Funded Pension being available in Armenia, funding retirement can be challenging for individuals, but possible. If one has high expectations for retirement, with spending some time on getting a clear financial plan in place and acting on it, will pay off as you get closer to retirement”, said Mariam Adamyan, HSBC Armenia Communications Manager.
 
Furthermore, “The Future of Retirement Healthy new beginnings” reveals that 65% of pre-retirees aged 45 and over would like to retire within the next five years if circumstances allowed, but 38% of these say they are unable to do so.