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ONLY 46% OF RESPONDENTS ARE FAMILIAR WITH THE CURRENT PENSION SYSTEM
hetq
16:06, June 20, 2011
Today the USAID Pension and Labor Market Reform (PALM) Project,
jointly with AM Partners Consulting Company, presented the results
of a baseline survey on public awareness of pension reform in Armenia.
Representatives of the Government of Armenia, international and
non-governmental organizations attended the presentation.
Armenia's existing pay-as-you-go (PAYG) pension system is financially
unsustainable, lacking a solid link between contributions made to the
system and the future pension income. This has served as a significant
disincentive for citizens to join the system. To address this concern,
the Government of Armenia has committed to reform the country's pension
system by introducing both voluntary and mandatory pension options
in order to make the system financially sustainable and ensure an
appropriate level of income at retirement.
The reform process will require change in the mentality, attitude
and behavior of common citizens and economic entities, which the
Armenian government plans to address through a public awareness and
education campaign.
To assist the Government of Armenia's efforts, the USAID PALM
project contracted AM Partners Consulting Company to design and
conduct a nationwide survey among 992 citizens of Armenia aged 16 and
above residing in both urban and rural areas. The survey will enable
policymakers to organize a more effective and targeted public awareness
campaign while enhancing the financial literacy of the society.
The survey covered key questions such as the people's knowledge of
and attitudes toward the current pension system and upcoming reforms,
anxiety regarding pensions, and the respondent's information sources.
According to the survey, only 46% of respondents were familiar with
the current pension system and just 27% of these knew the current
system was PAYG. Only 0.9% of the respondents knew the size of social
contributions made by employers and employees.
36% of respondents had heard about pension reforms, and 39%
of respondents said they were ready to join the voluntary funded
pension scheme.
In terms of preferred sources of information, TV received the
majority vote (a little over 90%), followed by newspapers and
magazines (19-21%), and lastly, relatives and acquaintances (14-19%
of respondents).
From: Baghdasarian
hetq
16:06, June 20, 2011
Today the USAID Pension and Labor Market Reform (PALM) Project,
jointly with AM Partners Consulting Company, presented the results
of a baseline survey on public awareness of pension reform in Armenia.
Representatives of the Government of Armenia, international and
non-governmental organizations attended the presentation.
Armenia's existing pay-as-you-go (PAYG) pension system is financially
unsustainable, lacking a solid link between contributions made to the
system and the future pension income. This has served as a significant
disincentive for citizens to join the system. To address this concern,
the Government of Armenia has committed to reform the country's pension
system by introducing both voluntary and mandatory pension options
in order to make the system financially sustainable and ensure an
appropriate level of income at retirement.
The reform process will require change in the mentality, attitude
and behavior of common citizens and economic entities, which the
Armenian government plans to address through a public awareness and
education campaign.
To assist the Government of Armenia's efforts, the USAID PALM
project contracted AM Partners Consulting Company to design and
conduct a nationwide survey among 992 citizens of Armenia aged 16 and
above residing in both urban and rural areas. The survey will enable
policymakers to organize a more effective and targeted public awareness
campaign while enhancing the financial literacy of the society.
The survey covered key questions such as the people's knowledge of
and attitudes toward the current pension system and upcoming reforms,
anxiety regarding pensions, and the respondent's information sources.
According to the survey, only 46% of respondents were familiar with
the current pension system and just 27% of these knew the current
system was PAYG. Only 0.9% of the respondents knew the size of social
contributions made by employers and employees.
36% of respondents had heard about pension reforms, and 39%
of respondents said they were ready to join the voluntary funded
pension scheme.
In terms of preferred sources of information, TV received the
majority vote (a little over 90%), followed by newspapers and
magazines (19-21%), and lastly, relatives and acquaintances (14-19%
of respondents).
From: Baghdasarian