Government to demonstrate political will in pension reform implementation

Armenian Prime Minister Hovik Abrahamyan received today a delegation led by Ernst-Ludwig Drayss, Chairman of the Board of “C-QUADRAT Ampega Asset Management Armenia” Company, a pension fund manager in the country.

The sides discussed the course of the ongoing pension reform in Armenia and the new legislative package that stems from the Constitutional Court (CC) decision of April 2, 2014.

The prime minister said that with the Armenian National Assembly’s passing of the new law that regulates the compulsory accumulative pension system in the country, a resolution was given to the issues the CC had raised, which shows Armenian government’s readiness to carry out the reform.

Abrahamyan also presented details of the system envisioned by the new legislative regulation.

Drayss, for his part, attached importance to the amendments to the Law on Accumulative Pensions and expressed willingness to assist the Armenian government with the successful implementation of this process.

The interlocutors highlighted the need to raise public awareness concerning the pension reform in Armenia.

“We will demonstrate a political will for the complete implementation of the reform,” Hovik Abrahamyan said.

The sides reaffirmed their readiness to continue effective cooperation in order to carry out the pension reform and strengthen public trust in reforms in Armenia.