YEREVAN. – Pension reform in Armenia requires great legislative work, Armenian presidential administration official said.

On Wednesday, Vardan Aramyan presented USAID-funded Pension Reform Implementation Program.

“Our American colleagues provide great assistance to modernization of our pension system. I think in several years the news system will prove to be the best to meet people’s interests and ensure secure retirement,” he said.

Vardan Aramyan said introduction of a new system planned for January 1, 2014 is linked to legislative reforms the major part of which had been implemented.

“Nevertheless, there is a number of legal acts that require improvement, and we are ready to continue work with our foreign partners,” the official added.

An accumulated pension system will come into effect in Armenia from January 1, 2014.