YEREVAN. – The Armenian government did not approve opposition-proposed bill offering to cancel payments to private pension funds, Labor Minister Artem Asatryan said during the meeting on Wednesday.

The government is already working on a new bill on pension reform, he explained, adding that representatives of other political groups will be involved. Besides, the bill proposed by Orinats Yerkir does not contain necessary amendments to other related laws.

On May 15, the National Assembly had approved the revisions on the Law on Funded Pensions. In line with the revisions, the funded pension deductions will become voluntary until the government submits the new bill that will decide the ultimate fate of the pension reform. Starting from Thursday, the people have begun sending respective petitions to their employers.