Former Armenian MP says now not right time for implementation of pension reform

Former Armenian MP says now  not right time for implementation of pension reform

YEREVAN, March 7. / ARKA /. A former Armenian parliament member Vardan Bostanjyan said today the government should have postponed the introduction of mandatory funded pension system ‘because now it is not the best time for large-scale pension reform.”

"The mandatory funded pension system can not operate in difficult socio -economic conditions. The so-called pension reform is absurd, illogical in essence and can not work under current difficult socio-economic situation,” he said.

Bostanjyan described the reform as an ‘extremely doubtful and uncertain initiative,’ saying the government is unable to implement it effectively.

Armenia’s four main opposition parties challenged the constitutionality of the new pension scheme in a joint appeal to the Constitutional Court in December. The court is scheduled to open hearings on the appeal on March 28. -0-

16:05 07.03.2014

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