Discussion in Armavir: Funded Pension System
23.07.2014
12:00
After the amendments to the RA Law on Funded Pension were adopted, there still exists a bias attitude towards people of equal status. Presently, the young public sector employeesalready pay the funded pension which is now defined as ‘welfarepayment’ while private sector employees will make the compulsory payments in 3 years.

Today at the Media Center initiated panel discussion in cooperation with the Development Center of Armavir, Ara Ghazaryan, lawyer, and Suren Parsyan, economist, shared their thoughts on the amendments to the Funded Pension Law. The panel discussion was attended by young and senior citizens of Armavir who asked questions, as well as expressed their viewpoints.

Please follow the link to watch the full video of the Panel Discussion.

It is an extraordinary situation if viewed from the aspect of human rights and constitution

Lawyer Ara Ghazaryan explained that the RA Law on Funded Pension brought about such a situation when a person does not dispose of his property at his discretion.

He also added that ‘the purpose of the new law does not coincide with the means. The European Convention discusses this question very often, the purpose should have a rational connection withthe means and the latter should serve the purpose.’

Discriminatory Approach

Young economist Suren Parsyan mentioned that through the Law on Funded Pension the government aims at creating long- term money to develop the financial market.The economist believes there are positive shifts, however, there are also serious drawbacks, one of which is the discriminatory approach, particularly the recent amendment to the law according to which citizens born after January 1, 1996 who enter the labor market for the first time are automatically enrolled in the system.

There is a necessity for raising public awareness

At the discussion, Ara Ghazaryan emphasized that especially in the marzes not everyone can clearly see the advantages of the system, the required actions and mechanisms applied forstoring money in funds or selecting a fund even though a great deal of work is done. ‘If the government had held more specified public awareness campaign, perhaps people would not be against the funded pension system now,’ said Ara Ghazaryan.

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