Pension savings to be basically used in Armenia

PanARMENIAN.Net - Chairman of the RA NA Standing Committee for Social Affairs Hakob Hakobyan said that, most likely, the bill on pension reforms in Armenia will be passed in the second reading in November, with its final adoption by the yearend.

“Huge work is done, around 250 suggestions have been received, including150 suggestions from the government and 100 – from various parties,” Hakobyan told journalists.

As for concerns voiced by opposition representatives that assets of pension funds will be invested in other countries, the expert said that assets of the fund of compulsory pension savings will be used in Armenia. “They will be used by the Central Bank, invested in bonds. And only extra funds, which Armenia does not need, will be invested in bonds abroad,” he said.

Hakobyan added that the bill on pension reforms aims to promote citizens’ interest towards lawful execution of agreements.

Armenian Minister of Labor and Social Affairs Artem Asatryan said for his part that if an employer does not want to legally record its employee, a citizen can make his choice on continuation of employment or resignation.

 Top stories
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
---