Announcement

Collapse
No announcement yet.

Parliament to convene hearings on pension reform

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

  • Parliament to convene hearings on pension reform

    Parliament to convene hearings on pension reform


    YEREVAN, September 18, /ARKA/. The Armenian National Assembly
    (parliament) said it will hold parliamentary hearings Wednesday on a
    draft law on pensions.

    The hearings are initiated by a committee on social issues. The bill,
    designed to shift to the so-called accumulative pension, was pushed
    through in the first reading.

    Under the new scheme the amount of retirement pension is supposed to
    grow to 50% of an average national wage. Any potential pensioner will
    have to pay 5% of its monthly income to the Pension Fund. The
    government will add to it a similar amount.
    The pension reform calls for shifting to a multi-stage pension system
    to be made of two components- government distributive and private
    accumulative. The passage to voluntary accumulative system is expected
    in 2011 and to the mandatory accumulative in 2014.-0-




    From: A. Papazian
Working...
X