YEREVAN. – Voluntary saving pension system has been in effect in Armenia since January 1, 2011, head of parliament committee on social affairs Hakob Hakobyan told journalists on Monday.

However, not a single citizen has joint it, he added. He stressed that voluntary system should serve as a transitional phase to the required saving system, which will be introduced on Jan. 1, 2014.

Volunteer-funded pension scheme involves banks, investment and insurance companies.

In contrast to voluntary system, required saving system supposed getting insurance only in pension funds.