“You praise the bill, have you seen what’s happening in Estonia; do you know why Russia rejected the plan?” Hrant Bagratyan MP from Armenian National Congress directed the question to Hakob Hakobyan member of Parliament’s standing committee concerning the plan to introduce a system of mandatory accumulating. Bagratyan advocated against introducing the plan stating Armenia having no need for being a poor state. Artsvik Minasyan from ARF (Armenian Revolutionary Federation) questioned the guarantees for the money to be used for state purposes.
Recall the bill of introducing a new mandatory accumulative system defines for the state to mandatory accumulate certain amount of money from salaries to be used for state purposes and later be refunded to population in terms of increased pension. Minasyan stated that countries which have introduced such plans have already given up the idea knowing it leads to default. “You want to guarantee taxpayers money by their own money? Put the issue for a plebiscite, let the people decide what they want. None of us here is going to make use of the system, but our sons and daughters will be affected by this.”