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The National Assembly of Armenia on Thursday passed in the second reading, and in full, the bill on making additions to the Law on Funded Pensions.

Prime Minister Nikol Pashinyan had stated—with respect to this bill—that they had passed the point of no return, since approximately 80 percent of the beneficiaries of the mandatory funded pension system were already included in the system. In addition, as per the PM, 70 percent of the money accumulated so far in the respective funds was already invested in Armenia’s economy.

Under the new law, the remaining 20 percent of the beneficiaries of the mandatory funded pension system shall join the latter, as of July 1.

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