YEREVAN, January 31. / ARKA /. Armenian Armbusinessbank said today it has concluded an agreement with the ministry of labor and social security on payment of old-age and retirement pensions.

Starting on February 1, 2011, pensioners may sign contracts with the Bank or any of its branches and receive their pensions, the bank said in a press release. According to it, pensioners will be given special pension plastic cards free of charge. They as well can open a bank account and receive pensions through it.

In addition, retirees can make free cash withdrawals at any time of the day from any ATM of the Bank, and can save also money and earn additional income of 5% per annum. The pension plastic cards will also provide an opportunity to enjoy a system of discounts at pharmacies, opticians, etc. -0-