YEREVAN. – The securing of a necessary level of financial education and awareness is one of the key challenges of Armenia’s pension reforms, “Pension System Awareness Center” Foundation CEO Artak Ghazaryan told Armenian News-NEWS.am.  

In his view, the pension reforms can be successful in Armenia if there is a necessary level of trust and a financially educated beneficiary. And another main challenge is having a corresponding field for the necessary regulations.      

To note, Yerevan is currently hosting an international seminar-consultation on pension reforms. And as per Ghazaryan, the arrival of international experts is extremely important in terms of experience exchange and familiarization with contemporary trends.  

“We [i.e., Armenia] learn lessons from those countries which experienced difficulties because of the [global economic] crisis. The reform design that we have enables us to evade those shocks that occurred in Western countries,” Artak Ghazaryan concluded.