Which of the Armenian MPs can survive on 25,000 AMD (about U.S. $70) a month, the MP Viktor Dallakyan asked during the parliamentary discussions of draft amendments to the RA Law on Pensions.

“Of course, not! It means that the 530,000 Armenian pensioners are doomed to death now,” he said. One million of Armenian citizens are poor, Dallakyan said. An Armenian pensioner needs 70,000 AMD (about U.S. $200) a month to survive. He is concerned that citizens’ money saved for pensions may be misused.

Under the bill, the Government provides guarantees for voluntary accumulations up to 4 million AMD. Hakob Hakobyan, Chairman of the Committee on Social Affairs, RA Parliament, stated that increments will reach 40% of the wages. The bill, if adopted, will apply to Armenian citizens over 40.