YEREVAN, August 20. /ARKA/. A new feature for selecting and changing pension funds has become available in Ardshinbank's mobile application, the bank's press service reports. Now Ardshinbank clients can choose or change their pension fund directly in the mobile application without the need to visit the bank.
To select or change a pension fund in their mobile application, clients need to enter the 'My Account' section, select 'Pension Account', then 'Change Fund' and confirm their choice. The application also provides information about the total amount of the client's pension savings.
Pension funds vary in their investment strategies and risk levels. Currently, three types of funds are available: balanced, stable income fund, and conservative fund. When choosing a fund, it is important to consider the number of years remaining until retirement age and the risk level of the fund.
If a client has not previously selected a pension fund, the system will automatically choose a conservative fund with an average risk level from all available funds.
Detailed information about the types of pension funds, their characteristics, risk levels, selection criteria, and examples is presented on Ardshinbank's informational page 'Choose Your Pension Fund'. Information about the profitability, risk level, and comparative effectiveness of the funds can also be found on the official website of the Central Depository of the Republic of Armenia.
When changing a pension fund, starting from the next month, new contributions will be directed to the fund chosen by the client, while previously accumulated funds will remain in the old fund. To transfer previously accumulated funds to the new fund, clients can also use the 'My Account' platform of the Central Depository of the RA.
"We are constantly improving Ardshinbank's mobile application, striving to make financial services as simple and accessible as possible for our clients. One of the steps in this direction was the new feature for selecting and changing pension funds in the mobile application. It allows clients to make decisions about their pension savings independently, quickly and conveniently performing necessary actions in the digital environment," said Artyom Ispiryan, member of Ardshinbank's board and director of digitalization and talent management.
We remind you that contributions to the client's pension account are made at a rate of 10% of income. Accumulated funds are the client's property and can be inherited.
It is important to note that this message is for informational purposes only and does not constitute an investment recommendation. Ardshinbank does not recommend or offer any specific pension fund or management company. The choice of pension fund is made by the client independently, based on their own assessment, goals, and preferences.
Ardshinbank is one of the leading banks in Armenia. The bank offers a wide range of universal banking services, providing solutions in retail, corporate, investment, as well as private banking and asset management. Ardshinbank has over 912,000 clients served by about 2,400 employees. The bank has a powerful multi-channel service platform, including comprehensive mobile and online banking systems, as well as the widest branch network in the country - 73 offices - and its own representative office in Paris.
Ardshinbank is the only company in Armenia with ratings from three leading global rating agencies: Standard & Poor's (BB- (stable)), Moody's (Ba3 (positive)), and Fitch (BB- (positive)). The bank's rating corresponds to the rating level of the Republic of Armenia, which is the best possible indicator for assessing the rating of a private organization.
The bank's activities are regulated by the Central Bank of the Republic of Armenia.
