Monday, 18 November 2013
Pension Reform Commented
A press conference was held at the government press center on the topic of “Pension reform: pension system and salaries.”
During the press conference clarifications on the new system were given by Minister-Chief of Government Staff Vache Gabrielyan, Minister of Finance David Sargsyan, Minister of Labor and Social Affairs Artem Asatryan and Deputy Chairman of the Central Bank Nerses Yeritsyan.
According to Minister-Chief of Government Staff Vache Gabrielyan, the pension reform, including the transition to the funded system is a lengthy process that has been discussed and elaborated in different formats. As he said, a broad range of issues were raised and detailed answers were given during such discussions. However, since the system is due from January 1, 2014, the citizens are concerned about the ways it will be applied, the problems that may arise and the possible solutions.
To remind, the citizens born after January 1, 1974 will be subject to the mandatory funded pension system.
