Karen Tamazyan: introduction of funded pension scheme will force Armenian companies and their employees out of shadow

PanARMENIAN.Net - Head of the financial market development department at the RA Ministry of Finance, Karen Tamazyan, said that due to introduction of the compulsory funded pension scheme, pensions will make 40-50% of former incomes against current 25%.

Meanwhile, to avoid the impact of AMD exchange rate fluctuation on people’s savings, they will be indexed per year at the amount of inflation, Tamazyan told journalists.

Besides, the state will double the compulsory savings in pension funds.

Tamazyan believes that introduction of the funded pension scheme will force local companies and their employees out of shadow, as they will be interested in registering the real amount of their salary.