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PENSION REFORMS ARE 'ABSOLUTE NONSENSE:' HRANT BAGRATYAN
Tert.am
15:56 02.11.10
Speaking at a news conference today, Armenia's former Prime Minister
Hrant Bagratyan described the current pension reforms as "absolute
nonsense."
"Such reform was mainly based on the former Soviet system, when the
working generation paid for the elderly who no longer worked. But
now the principle has changed; everyone has to work for his future
pension," he noted.
Mr Bagratyan also introduced his calculations of the cumulative
pension system. According to him, an income of $300 million USD will
be generated due to the sums paid by those employed and an equal sum
will be generated due to state allocations.
"It makes 600 million. They already export $1 billion USD, so are
they going to export that 600 million too?"
Mr. Bagratyan introduced HAK's scheme which proposed that pension
deductions from monthly salaries include the taxes as well. And most
importantly, the payments by employers should form part of pensions.
Touching upon the issue why the pension reforms are being postponed
for several years running, the former premier explained that by the
authorities' inability to realize the plan.
"They are unable to bring those reforms to life," said he, adding
that the authorities don't even have the courage to say that they
have erred.
From: A. Papazian
Tert.am
15:56 02.11.10
Speaking at a news conference today, Armenia's former Prime Minister
Hrant Bagratyan described the current pension reforms as "absolute
nonsense."
"Such reform was mainly based on the former Soviet system, when the
working generation paid for the elderly who no longer worked. But
now the principle has changed; everyone has to work for his future
pension," he noted.
Mr Bagratyan also introduced his calculations of the cumulative
pension system. According to him, an income of $300 million USD will
be generated due to the sums paid by those employed and an equal sum
will be generated due to state allocations.
"It makes 600 million. They already export $1 billion USD, so are
they going to export that 600 million too?"
Mr. Bagratyan introduced HAK's scheme which proposed that pension
deductions from monthly salaries include the taxes as well. And most
importantly, the payments by employers should form part of pensions.
Touching upon the issue why the pension reforms are being postponed
for several years running, the former premier explained that by the
authorities' inability to realize the plan.
"They are unable to bring those reforms to life," said he, adding
that the authorities don't even have the courage to say that they
have erred.
From: A. Papazian