YEREVAN. – Armenia’s employers will hold a conference on tax law changes in the resort town of Tsakhkadzor.

Mariam Manukyan, director of GMG Media Group that is organizing a conference, said several dozens of businessmen and representative of state agencies, including State Revenue Committee and Finance Ministry, will gather in Tsakhkadzor.

“I am an employer, too. I have a number of offers how to make pension reform more effective. But, in general, I think the system is effective both for employer and the employees,” Manukyan said.

She is convinced, the demand for full registration of the employee’s salary, although being a real problem for Armenia’s labor market, will be satisfied, because otherwise valuable workers will leave the employer.

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.