Yerevan/Mediamax/. Pension reform in Armenia is an effort to introduce “long money”.

Mediamax reports that financier, management specialist Harutyun Mesropyan stated today that introduction of the accumulative pension system will allow solving a number of problems, at that, however, it has certain threats in it as well. According to him, 460 thousand citizens capable of working support 520 thousand pensioners in Armenia today.

In his turn, Head of Financial Market Development Department of the Ministry of Finance Karen Tamazyan stressed that as a result of the reform, pension will be composed of three components: governmental, mandatory accumulative and voluntary accumulative constituent parts. He also noted that the activity of private funds will be regulated by the law, and “loss of money will be impossible”.

Harutyun Mesropyan suggested implementing the accumulative system on voluntary basis at the first stage, simultaneously developing the security market. Karen Tamazyan answered that in 2004 there was such an attempt already made, however the voluntary accumulative system was inefficient.