YEREVAN. – Starting from 2014 annual pension savings in Armenia will make $100-150 million, Finance Minister said.

According to the government’s forecasts, the savings will total $800 million during the first five years of operation of a new pension system, Davit Sargsyan said.

According to the approved order, pension funds will be able to place 40 percent of the managed funds in foreign assets and 60 percent - in Armenia.

“This is a natural insurance against currency fluctuations,” deputy chairman of the Central Bank Nerses Yeritsyan assured.

The Armenian government has recently faced a rising tide of public discontent with the introduction of mandatory pension system.