As of July 31, 2024, the total assets of pension funds managed by Amundi-Akba Asset Management in Armenia exceeded 500 billion AMD (over 1.28 billion USD), of which over 102 billion AMD (about 20%) were generated from management income, while around 400 billion AMD (more than 1 billion USD) came from accumulated contributions.
According to the press service of "Amundi-Akba Asset Management," about 65% of these assets are invested in Armenia, specifically in government and corporate bonds, bank deposits, local stocks, and a private investment fund that invests exclusively in the Armenian economy.
The pension funds in Armenia are managed by two companies: AMUNDI - Acba ASSET MANAGEMENT CJSC and C-QUADRAT Ampega Asset Management Armenia. As of December 31, 2023, the total amount accumulated in Armenia's pension funds was approximately 800 billion AMD (over 2 billion USD), a 42.6% increase compared to 2022. The returns on the funds since their inception have ranged between 12.4-15.3%. As of December 31, 2023, there were 812,093 participants in the pension system.
The mandatory funded pension system has been in place in Armenia since 2014 and has undergone changes over time. Participants start receiving their funded pensions upon reaching the retirement age of 63, with the first generation of beneficiaries set to begin receiving payments in 2037. Participation in the funds is mandatory for individuals born after January 1, 1974.
