ArmInfo. The Minister of Finance of Armenia Atom Janjughazyan calls on citizens of the republic not to be afraid of bankruptcy of pension fund managers. "Even if it is purely hypothetical to admit the possibility of bankruptcy of fund managers, which is unlikely, given their reputation, for Armenian citizens it is a risk with a 0% probability, as their assets are untouchable and invested in various securities," he stated on June 26, during Facebook press conference on the radio "Azatutyun".
According to the minister, a decent provision of old citizens is one of the main tasks of each state, citizens of the republic, in turn, claim a decent pension. The question is whether the state is able to provide a decent pension to the citizens of the country. The distribution system that operates to this day has become obsolete, since for its "vitality" it is necessary that there are 3 working citizens per pensioner, while today the figure is one to one. Taking into account the demographic processes, the picture promises to change not for the best for the retired people.
The head of the Armenian Ministry of Finance refrained from predicting whether the mandatory component of the funded pension system would be retained in the future. The question with the obligatory component, as well as the prospect of reducing the income tax, as the minister believes, should be considered in a comprehensive manner, namely, to what extent the current tax regulations provide protection of the interests of citizens and business of the country.
It should be noted that the funded pension system will become mandatory for all citizens of Armenia from July 1, 2018.
