Monday, March 26 2012 23:15
Estonian official advises Armenian reformers to actively inform the citizens of the pension reform
ArmInfo. Veiko Tali, representative of the Estonian Ministry of Finance, advises the Armenian reformers to actively inform the citizens of the pension reform achievements. During today's international conference in Yerevan, he told the journalists that the reform efficiency also depends on the work of supervisory bodies, which are to regulate the activities of the managing funds.
As regards the risks of the contribution pension system, Tali first of all pointed out the investment risk. He specified that competent management of pension assets will ensure a good future for the citizens. As a rule, the financial crises slightly reduce the value of the assets, but even in case of such developments introduction of the contribution pension system is justified.
Armenia's Labor and Social Security Minister Artur Grigoryan said that Armenia gives high priority to the experience of its European colleagues, especially the one concerning crisis and post-crisis risk management.
"The success of the pension reforms will depend on the level of financial competence of our future pensioners. That's why we are shortly launching a project to improve this level," Grigoryan said.
The two-day TAIEX seminar has been organized by Armenia's Social Security Service and the Social Reform Awareness Center with the support of Armenia's Central Bank, Finance Ministry, USAID and NASDAQ OMX Armenia and is aimed at exchanging social security experience with EU member states and raising pension reform awareness in Armenia.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan