YEREVAN. – ARF Dashnaktsutyun member Artsvik Minasyan presented Armenian lawmakers an application on introduction of accumulative pension system.

The document was presented on behalf of four parliamentary factions Prosperous Armenia, ARF Dashnaktsutyun, Armenian National Congress.

Minasyan said the mandatory component does not correspond to economic challenges that Armenia is faced with.

“However, despite this, the government submitted the draft bill that was approved by parliamentary majority. This change once again proved that the leadership is unable to improve the demographic situation, since one pensioner comes to one working person. Besides, the payments will go to private funds, but the private sector does not have an obligation to create new jobs,” he said.

The MP believes that in order to keep these amounts in the economy, the government should have to take everything into their own hands and make investments in the economy to create new jobs.