ArmInfo. On November 10, the Board of the Central Bank of Armenia registered changes made in the agreements between Amundi-ACBA-Asset Management and Central Depository of Armenia.
As the press service of the Central Bank of Armenia told ArmInfo, the Council of the Central Bank registered a new version of the rules of the pension fund of CJSC "Amundi-ACBA-Asset-Management" for three investment models. The first - in a pension fund with a stable return, the second - in a conservative pension fund, and the third - in a balanced pension fund.
Two pension funds operate in Armenia within the mandatory funded pension system: ZAO Amundi-ACBA Asset Management (since November 19, 2013) and LLC Ce- QUADRAT Ampega Asset Management Armenia (since November 29, 2013). The shareholders of Amundi-ACBA Asset Management is a French company - 51% and ACBA-Credit Agricole Bank - 49%. Shareholders of LLC "C- QUADRAT Ampega Asset Management Armenia" are the Austrian investment company C-QUADRAT Investment AG - 74.9% and the German company Talanx Asset Management GmbH - 25.1%. Operators of pension accounts are HayPost, Araratbank, Ardshinbank, Armbusinessbank, HSBC Bank Armenia, INECOBANK, VTB Bank (Armenia) and Converse Bank.
A multi-step accumulative pension system (NPS), mandatory for persons born after January 1, 1974 (for citizens born before January 1, 1974, the distribution pension system operates) was introduced in Armenia from January 1, 2014. The Constitutional Court of Armenia in the same year on January 25 decided to suspend the RA Law "On funded pensions" until the issue of constitutionality of a number of its provisions is resolved. But in February 2017, the amendments to the law "On Compulsory Pensions" had already been submitted to the National Assembly of the Republic of Armenia, which were approved on March 1. The application of the mandatory component of funded pension for all Armenian citizens born after January 1, 1974, will come into force on July 1, 2018. Having voluntarily joined the accumulative pension system (NPS) until July 1, 2018, citizens will be able to receive pensions from two components - funded and mandatory.