The Prime Minister of Armenia, Nikol Pashinyan, on Tuesday explained the new government’s position on the mandatory funded pension system in the country.
“We have inherited [from the previous government] a specific situation when the [respective] law enters into force as of July 1,” the PM noted, in particular. “Our decision [on this matter] doesn’t reflect our global approach, but the objective is to buy time so that we discuss the matter with all interested parties—without confusion, under calm conditions.”
According to Pashinyan, the second option is to put off this law’s entry into force. But, as per the PM, this option would be unjust for those who already are in the mandatory funded pension system. In his view, the cancelation of this law will negatively affect investments; but if such a decision is made as a result of talks, this can be done two months later.
“The third option is to leave everything as it is,” Nikol Pashinyan added, in particular. “I regret that we [the new Armenian government] have made such a decision. However, we can discuss [it] and make a decision that is mutually agreed, or close to it.”