A new feature for selecting and changing pension funds is now available in the Ardshinbank mobile app. Ardshinbank customers can now select or change their pension fund directly through the mobile app, without having to visit a bank branch.
To select or change a fund, customers need to open the “My Account” section in the mobile app, select “Pension Account,” then choose “Change Fund” and confirm their selection. The app also provides information on the total amount of pension savings accumulated.
Pension funds differ in terms of their investment strategies and levels of risk. The available fund types are Balanced, Fixed Income, and Conservative. When selecting a fund, it is important to consider the number of years remaining until retirement as well as the fund’s level of risk.
If a pension fund has not previously been selected, the system automatically assigns a Conservative fund, which has a medium level of risk.
Detailed information on pension fund types, their characteristics, risk levels, selection criteria, and examples is available on Ardshinbank’s “Choose Your Pension Fund” information page. Information on fund returns, risk levels, and comparative performance is also available on the official website of the Central Depository of Armenia.
If a customer changes their pension fund, new contributions will be directed to the newly selected fund starting from the following month, while the funds accumulated previously will remain in the existing fund. To transfer previously accumulated funds to the new fund, customers can use the Central Depository of Armenia’s “My Account” platform.
“We are continuously improving the Ardshinbank մobile աpp with the aim of making financial services as simple and accessible as possible for all our customers. The introduction of the new pension fund selection and change feature is another step toward this goal. It enables customers to make independent decisions regarding their pension savings and complete the necessary actions quickly and conveniently in a digital environment,” said Harutyun Ispiryan, Member of the Management Board, Chief Digital and Talent Officer at Ardshinbank.
Please note: Contributions to a pension account are made at a rate of 10% of income. Accumulated funds are the personal property of the account holder and are therefore also inheritable.
Important: This communication is provided for informational purposes only and does not constitute investment advice. Ardshinbank does not recommend or guarantee any particular pension fund or fund manager. The choice of pension fund is made by the customer based on their own assessment, objectives, and preferences.
Ardshinbank is Armenia’s leading bank. It provides a wide range of universal banking services, offering solutions in retail, corporate, investment, as well as private banking and asset management. Ardshinbank serves over 912,000 clients with the support of more than 2,400 employees. The Bank operates a powerful multi-channel service and sales platform, including 73 branches, along with comprehensive mobile and online banking systems.
Ardshinbank has the largest branch network in the country, as well as a representative office in Paris. It is the only Armenian company rated by all three of the world’s leading rating agencies: Standard & Poor's (BB- (Stable)), Moody’s (Ba3 (Positive)), and Fitch (BB- (Positive)). The Bank’s rating is aligned with that of the Republic of Armenia, which represents the highest possible assessment for a private entity in the country.