Yerevan /Mediamax/. In spring, 2009, “Ameriabank” will offer in the market a corporate pension plan.

“The implementation of this non-governmental pension system is significant because it does not only resolve a social issue, but ensures long-term investments, which are important for the development of Armenia”, Mediamax was told in the press service of “Ameriabank”.

The plans proposed by “Ameriabank” may be individual or corporate. In the first case the citizens make the contributions for their future pension personally, while in the second case the employer participates as well.

Corporate pension plans are based on mutually related trust management accounts. The organization develops a pension payment plan in the names of the employees. The contributions may be at 3-15% of the salary, as mutually agreed between the employer and employee. When making a contract, the employee and the employer clearly state the provisions regarding the effect of pre-term termination of the employment contract on the contribution of installments.

In the phase of accumulation, “Ameriabank” will submit quarterly reports on the position of the employees’ investment portfolio to the employer as the founder and to the employees as beneficiaries.

“The said plans are rather flexible and it is not mandatory that the onset of payments coincides with the retirement age stipulated by law. An earlier age or later date can be stipulated at the investor’s discretion. Besides, the plans do not replace the social pension, but ensure additional income’, “Ameriabank” noted.

For the management of pension money collected under the presented plans, “Ameriabank” has developed a special strategic plan jointly with “Troika Dialog”, a major Russian investment company, which has vast experience in pension asset management. According to the developed strategy, in the first years the money will be invested in government securities, which are the most reliable investment tools in Armenia, and later, when there are more funds available, the Bank can invest a part of the portfolio in preferable international securities.