Armenia's Pension Funds Approach 1.5 Trillon AMD: CBA Data for January 2026

According to the Central Bank of Armenia, as of January 2026, the total assets of mandatory pension funds amounted to 1.487 trillion AMD.

Fund Structure

1. Conservative Funds – 1.458 trillion AMD
2. Balanced Funds – 16.6 billion AMD
3. Stable Income Funds – 11.7 billion AMD The market remains focused on low-risk strategies.

Investment Allocation

1. Bonds – 623.1 billion AMD
2. Armenian Government Bonds – 543.3 billion AMD
3. Collective Investments – 491.5 billion AMD
4. Deposits and Cash – 353.5 billion AMD
5. Other Assets – 15.5 billion AMD

Net Asset Value (NAV) stood at 1.483 trillion AMD, while fund liabilities were 3.5 billion AMD. Liabilities represent a very small share compared to assets. This indicates that the funds are operating stably, expenses are under control, and the bulk of the funds remains in the participants' savings. In fact, the lower the liabilities, the more money is actually working toward your future pension.

Conclusion

Pension funds continue to grow while maintaining a conservative approach. This ensures the stability of savings but limits profitability. To compare alternative instruments and increase the returns on your savings, use AFM.