PENSION REFORM IN ARMENIA TO BE CARRIED OUT ACCORDING TO NEW TIMETABLE

NOYAN TAPAN
DECEMBER 4, 2009
YEREVAN

YEREVAN, DECEMBER 4, NOYAN TAPAN. At the December 3 sitting, the
Armenian government changed the program of the pension reform in
Armenia and the timetable of measures on the reform’s implementation,
which it had approved earlier. During the discission conducted by
the Armenian prime minister in June, a decision was made (taking
the existing problems into account) to start the pension reform on
1 January 2011 instead of 2010. The RA Government Information and
PR Department reports that adoption of this legal act will ensure
the formation of an infrastructure for the pension reform, also
the introduction of the cumulative component in the system and its
normal functioning.

Attaching special importance to this decision, Prime Minister Tigran
Sargsyan reminded that in his keynote speech at the convention of the
Republican Party of Armenia, RA President Serzh Sargsyan announced
the start of the pension reform. The timetable of the reform is now
being specified so that by 2011 the system will be completely ready
for a new regime.