Yerevan /Mediamax/. Accumulative pension system may be introduced in Armenia starting from 2009##, Head of Social Security State Service Vazgen Khachikian stated in Yerevan today.

Mediamax reports that Vazgen Khachikian noted that at present the transition to the accumulative system is in the legislative stage. “People at the age of up to 40 years can define the volume of their future pension after the introduction of the new system, at that, in the process of accumulation, their tax deductions to the pension fund before the accumulative pension system comes into force, will not be taken into account”, Vazgen Khachikian stated.

He informed that the schedule for increasing the pensions till the year of 2012 is agreed upon with the government and the possible inflationary pressures. “So, in 2008, 6% inflation is provided for, whereas the volume of pension increased for 60%”, Vazgen Khachikian stated.

The Head of Social Security State Service informed that at present there are about 523 thousand pensioners registered in Armenia, about 480 thousand of whom receive pension monthly, the remaining 40-45 thousand pensioners are either abroad, or do not reside by the address of their registration.