Karen Tamazyan: introduction of funded pension scheme will force Armenian companies and their employees out of shadowAugust 27, 2010 - 14:02 AMT PanARMENIAN.Net - Head of the financial market development department at the RA Ministry of Finance, Karen Tamazyan, said that due to introduction of the compulsory funded pension scheme, pensions will make 40-50% of former incomes against current 25%. Meanwhile, to avoid the impact of AMD exchange rate fluctuation on people’s savings, they will be indexed per year at the amount of inflation, Tamazyan told journalists. Besides, the state will double the compulsory savings in pension funds. Tamazyan believes that introduction of the funded pension scheme will force local companies and their employees out of shadow, as they will be interested in registering the real amount of their salary. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |