Announcement

Collapse
No announcement yet.

Armenian minister upbeat on new pension scheme

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Armenian minister upbeat on new pension scheme

    Armenian minister upbeat on new pension scheme

    Mediamax news agency
    10 May 05

    YEREVAN

    The introduction of the new pension system in Armenia will make it
    possible to provide decent pensions to the republic's citizens,
    Armenian Minister of Labour and Social Security Agvan Vardanyan said
    in Yerevan today.

    Speaking at a briefing in Yerevan today, the minister said that the
    concept of the new pension system adopted by the government is based
    on three main concepts:

    - provision of state pensions (may apply to disabled citizens who are
    unable to work for health reasons);

    - ensuring of state accumulation (payments to the Pension Fund are
    directly connected with the size of the future pensions);

    - provision of voluntary pensions (apart from obligatory payments,
    voluntary payments are made in order to increase the size of the
    future pension).

    Agvan Vardanyan said that the introduction of the new pension system
    will make it possible to considerably increase the average pension in
    Armenia, which currently equals 10,000 drams (22 dollars).
Working...
X