Legislative package on "Funded Pensions" gives right to expression of will: Minister

The new legislation package of the Government on mandatory funded pension gives the opportunity to the participants of the funded system to express their will. In an interview with the reporters this was said by the Ministry of Labour and Social Affairs Artem Asatryan, stressing that it is only an interim solution to the problem . "Before the adoption of the new law those who have not made payments, shall not be liable to fines, and those who have already made their payments, the state’s participation will continue and the money will work in the benefit of the participants of the system. Mandatory or non-mandatory, at this stage the idea is not discussed. We have a clear legal norm that allows the citizens who are finding that their wages should not be withheld at this stage, submitting a written application, to express the will of their own" - as reports “Armenpress”, said Asatryan. He noted that in a short term this is the major problem, and the law package related to the complete model of the system will be developed and submitted to the National Assembly