FROM SOCIAL EQUITY TO SOCIAL JUSTICE
ArmRadio.am
30.04.2007 17:55
Armenia is currently implementing pension reforms. The new pension
system is expected to come into force from January 1, 2008. This will
be an accumulation system, where every worker will determine the size
of his pension himself.
The more social security payments are made, the larger the pension
will be.
Today the pension is calculated on the basis of basic pension and work
experience. There will be a shift from the idea of social equity to
the idea of social justice.
President of RA State Social Security Fund Vazgen Khachikyan told a
press conference today that today 460 thousand employed make social
security payments for 530 thousand pensioners.
"The reformed system will soften the possible negative consequences of
the paces of economic and GDP grown and deficit," Vazgen Khachatryan
noted. The new system will apply to employed citizens under 40,
as well as those who will enter the labor market for the first time.