Vigen Sargsyan and Karen Tamazyan appointed members of Board of Trustees of military compensation Fund

Defense Minister Vigen Sargsyan and Deputy Finance Minister Karen Tamazyan were appointed members of the Board of Trustees of the Fund for compensation of servicemen for health/life damages sustained during defense of Armenia.

During the Government session on February 16, Minister-Chief of the Government Staff Davit Harutyunyan said the adoption of the Government’s draft decision on appointing members of the Fund’s Board of Trustees is linked with the necessity to form a Board of Trustees of this Find.

The Government appoints 3 out of 9 members of the Board. In case of death or having 1st degree disability a lump-sum AMD 10 million will be compensated. In case of 2nd degree disability a lump-sum AMD 5 million will be compensated. Thereafter, there will be monthly payments. In case of officers’ deaths or 1st degree disability AMD 300.000 will be compensated, in case of 2nd degree disability AMD 200.000 . AMD 250.000 and 150.000 respectively will be compensated for the corporal staff, AMD 200.000 and AMD 100.000 respectively will be compensated for the privates. The financial resources will be formed from monthly AMD  1000 of each of employees’ salaries, from the sales of securities, as well as from grants and donations provided for that purpose.