Ex-PM won’t allow for expropriation of pensioners' money

Ex-PM won’t allow for expropriation of pensioners' money
November 27, 2012 - 15:13 AMT

PanARMENIAN.Net - Former Prime Minister of Armenia, a member of Armenian National Congress (ANC) opposition bloc's parliamentary group Hrant Bagratyan accused government of having failed to form 100% guaranteed retirement funds.

At a November 27 news conference in Yerevan, Hrant Bagratyan expressed confidence that over the half of pension funds will be spent on purchase of foreign securities to provide a 2% VAT growth in future.

“We won't allow for peoples' money to become expropriated over Prime Minister Tigran Sargsyan's plans,” Bagratyan said.

Bagratyan also expressed displeasure over current pension reforms where pensions are invested as a deposit rather than streamed into pension funds.

Partner news
 Top stories
PM: Armenia didn’t drop idea of new NPP constructionPM: Armenia didn’t drop idea of new NPP construction
Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation.
IFC to boost Armenia’s food safety practicesIFC to boost Armenia’s food safety practices
IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining.
Armenian govt. to cover 30% of gas charges for populationArmenian govt. to cover 30% of gas charges for population
Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices.
Electricity prices to be reconsidered in ArmeniaElectricity prices to be reconsidered in Armenia
Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices.
Partner news
 Articles
Overview: Armenian economy 2012

Brief overview of main economic events of 2012 in Armenia

 Most popular in the section
U.S. employment rises more than expected in April
Gazprom oil giant granted right to explore 4 Arctic gas fields
Ford decides to surpass its hybrid sales record this year
Portugal to make $6.3bn in cuts to avoid another bailout
Home
All news
Overview: Economy
Archive for November 27, 2012
Other news in this section
 Latest news
N. Korea sends one of top military officials to Beijing Choe is the most senior North Korean official to visit Beijing since Kim's uncle Jang Song-thaek made the trip in August 2012.
Libya's interior minister submits resignation, sources say Awash with weapons in private hands, armed attacks have increased in the last few weeks, especially on police stations in Benghazi.
Human Rights Watch: more Afghan women imprisoned for "moral crimes" Human Rights Watch says many are jailed for running away from home, often from forced marriages or domestic violence.
Benedict Cumberbatch’s Julian Assange biopic to open in Oct The drama centers on the relationship between Assange and Domscheit-Berg, which became increasingly fraught as WikiLeaks' influence grew.