NECESSITY OF PENSION SECURITY SYSTEM REFORMS TOPICAL IN ARMENIA

NOYAN TAPAN
MARCH 8, 2010
YEREVAN

Issues regarding pension security system reforms were discussed
at RA President Serzh Sargsyan’s March 6 working consultation in
the enlarged staff. Heads of all interested structures took part in
it. According to RA President’s Press Office, S. Sargsyan mentioned
that this system inherited from the Soviet years today obviously
does not meet and correspond to the demands of the time, therefore
the necessity of reforms in this sphere is topical.

RA Deputy Minister of Social Security Artem Asatrian and Deputy
Minister of Finance Vardan Aramian in detail presented the pivotal
directions of the program of reforms stressing that the most important
of them is the introduction of the accumulation system the goal of
which is creating a possibility of living a well-off life for citizens
after the pension age. They also said that the offered model takes
into consideration modern world’s experience of pension reforms and
gives a possibility to confront introduction of the accumulation
system with the principle of social solidarity.

The consultation participants accepting the necessity and importance
of offered changes meanwhile presented their considerations, proposals
and concerns.

S. Sargsyan summing up the consultation charged heads of the proper
bodies to hold additional studies and discussions in connection
with the voiced concerns, to assess all possible risks, to work out
possible mechanisms of guarantees and to present the total work at
the next consultation.