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President of Armenia confesses that 80% of Armenian citizens are against the obligatory accumulative pension system

  • by Ashot Safaryan

  • Saturday, February 15, 17:17

80% of Armenian citizens are against the obligatory accumulative pension system, Armenian President Serzh Sargsyan said when replying the questions of the participants in the  Yerkrapah Union of Volunteers tenth congress on Saturday.


He said that the reason is that the results of the reforms will show much later, whereas the people want their situation to improve now. "We knowingly resorted to that step, for the sake of our children and grandchildren. No one can argue that reforms are not needed," the President said.


He also added that it is the present-day Government of Armenia that decided to give a practical solution to this matter.  "I am completely for these reforms. There may be poor formulations in the law, but I am confident that the meaning does not change," he said.  The pension funds will give a great momentum to all economic actors of Armenia. This money is needed for the country's economy, so that they may be directed to the payment of pensions in the future. "If the pension reforms were not the necessity, the leadership of the country would not waste such a great political resources. We are not foolish to waste political resource on a bad thing," Serzh Sargsyan concluded. 

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