Banks.am received some information regarding the amendments proposed to make to the Accumulative Pension System Law.

It should be recalled that the amendments were discussed at the meeting with the participation of Armenian Prime Minister Hovik Abrahamyan and representatives of RPA, PAP, Orinats Yerkir and Dashnaktsutyun factions on June 14.

According to Banks.am source, the mandatory component is going to apply to only civil servants whose salaries will be increased from July 1. Instead of the mandatory payments to the cumulative funds a social payment might be set, which might become part of a social package in the future.

As to the private sector, solutions on voluntary basis might be devised with the employment of motivational mechanisms.