KHACHATUR ABOVYAN ARMENIAN STATE PEDAGOGICAL UNIVERSITY

The RA Deputy-Minister of Finance Vardan Aramyan made a report on the project “Pension Reforms at the Republic of Armenia” at the Pedagogical University. The Deputy-Minister

 thoroughly introduced the current pension system and the necessity of pass from the distributive pension system to the multilevel pension system.

He assured that there are numerous advantages of the accumulative system. It will enable each person to have their own pension accounts were they will cumulate their personal income and the payments received from the country, moreover, they will be able to project their future pension, cumulate and save money to have a safe and secure venerable age.

“The Armenian multilevel pension system has two main components- distributive and accumulative. Through the distributive system the Government aims to raise the pensions without jeopardizing the country’s financial stability,” said Vardan Aramyan. Then he added that the accumulations that had already been made will provide a dignified pension and welfare for the venerable age of our citizens.”

The freshman of the Faculty of Corrective Pedagogy, Lilit Mnatsakanyan gives immense importance to the pension reforms project. She mentions that in order to have a dignified pension she will join the project from this age; she also adds that it is not unwarranted at all to live on today, but to think about tomorrow.

Let us remind, that since 2011the multilevel pension system with the voluntary accumulative component has been available in the country, and the obligatory accumulative component will start operating since 2014.