When can you cash the Money from your Social Package?

According to № 1483-N decision of the RA Government the money in the social package account can be cashed in three following cases:
1. The employee- the beneficiary of the social package- after each year on January 1 the amount of money in current account can be cashed which cannot exceed the amount of the social payments of the employee from the salary paid last year, calculated from entrepreneurial income and transferred to. In that case, the employee submit the application of his social package account to the bank for getting the information about transferred amount of money from tax authority to the registry officer of the actual participants calculated from entrepreneurial income.
2. When the employee has got the right to receive pension and do not work anymore. In that case, the employee applies his pension certificate to the bank to cash the amount of money in his social package account.
3. After employees death the heir, by law, descends the means on the social package account if he applies inheritance certificate to the bank with the social package account.


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