RA Deputy Finance Minister Vartan Aramyan had a press conference and talked about the legislative changes which were presented to National Assembly.
According to Aramyan, the changes solve the technical problems and added that there are not any significant changes in the document.
Aramyan said that starting from 2013 there will be the usage of income tax and in 2014, the usage of mandatory funded pension system.
“These changes are not for 2 or 3 years, but for a long period of time. Our money will be collected in our suitcases and the fund will be managed by managers,” said Aramyan stressing that it is very important who will be the managers.
He noted that currently “Capital Asset Management” company is using the volunteer part of the system.
On November 28 there was a conference dedicated to pension reforms and during it GAM intended to enter Armenia for realizing it.
“In the case of required type, the conditions will be more severe than in the case of a volunteer. We have stopped the access so that any one can’t come and be the manager. This is very safe system but only two cases of fail happened during its history, one in Argentina and the other in Hungary.”
To the question why public system does not serve and example for private companies? Aramyan responded that the public system will be under required condition.
