TSAKHKADZOR. – The current pension distribution system has deficit and it will get worse in the future, Armenian Deputy Minister of Finances Vardan Aramyan told during the seminar on pension reforms in Tsakhkadzor.
Armenian nation continues to get older and the demographic problems affect also the financial system as social payments are not enough to pay pensions. The generation harmony system does not work. The young generation is not able to take care of the older generation.
In order to solve those problems Armenia changes to collective system of pension payment.
According to Aramyan in order to settle the financial tension Armenia must change its demography, the birth rate must increase.
