YEREVAN. – Like all others, the new pension plan in Armenia will have a positive impact on the ministers, as well, Government Chief of Staff-Minister Vache Gabrielyan noted on Monday.

But this plan will not apply to Gabrielyan, since he is born before 1974.

“My wife, however, already voluntarily participates in the cumulative model and she is quite satisfied. I, too, am pleased [with it] and would like to participate [in it],” Gabrielyan added. 

Central Bank of Armenia Deputy Chairman Nerses Yeritsyan likewise noted that the aforesaid pension plan does not apply to him. 

To note, the new cumulative pension plan will come into effect in Armenia on January 1. This plan will be mandatory for those born after 1974 and voluntary for those born before 1974.