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March 28
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YEREVAN. – Over 50 percent of Armenian citizens are ready to participate in the new pension system, deputy chairman of the Armenian Central Bank Nerses Yeritsyan said in the parliament.

According to him, this is proved by the survey conducted at the initiative of the Central Bank of Armenia.

“At least half of the working citizens are ready to participate in the mandatory accumulative system and choose one of six investment portfolios proposed by the private pension funds,” he assured. Yeritsyan stressed that two funds have already been granted a license.

 A new cumulative pension system will come into effect starting from January 1, 2014. The reform has caused concerns of citizens in connection with pension payments (from 5% to 10%), as well as doubts about the safety of money in private funds.

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