AHARON CHILINGARYAN, A MEMBER OF THE RA CENTRAL BANK COUNCIL, PRESENTED THE MULTIDEGREE PENSION SYSTEM TO ASUE STUDENTS

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"Pension  awareness  center  with  the USAID-funded Pension and Labor Market Reform Project (PALM),  NASDAQ  OMX Armenia  and  Social  Security  Service  of  the  RA  has  undertaken  a  series  of  lectures  and  today  we  have  the  honor  to  listen to  one  of  them",  said  Edgar  Ghazaryan, the  Dean of  Management  Department,  during  the  meeting  with  ASUE  students,  Aharon  Chilingaryan,  a  member  of  the  RA  Central  Bank  Council  and  the  workers  of  the  USA  agency  of  international  development  and  asked  Roza  Kiappa, the  Director  of   the USAID-funded Pension and Labor Market Reform Project (PALM),  to  speak.

"We  have  come  here  to  support  and  help  your  country  in  implementation  of  pension  reforms.  We  hope  that  the  investment  of  the  presented  system  will  provide  you  with  fair and  adequate  income  later,  at  the  same  time  will  give  your  country  an  opportunity  to  develope", addressing  the  students  said  Roza  Kiappa  and assured  that the  RA  Government  has  selected  wonderful  and  correct  way. She  hoped  that  these  reforms  would  attach  the  Youth  attention, as  they  were  just  for them

Referring  the  pension  reforms  implemented  in Armenia,  Aharon  Chilingaryan,  a  member  of  the RA  Central  Bank  Council,  said  that  this  initiative  had  a  goal  to  provide  the  pensions  with  faith  and  adequate  pension, to  make  the  system  financially  stable,  to  create  a  direct  connection  between  the  amount  of  social  payments  and the  pensions.  He  observs  that  there  are   many  problems  in  Armenian  current  pension  system,  the  first  of  which  is that  the  collected  social  contributions  are  insuficient.  Because  of  it,  the  speaker  mentioned,  that  additional  payments  for  the  payment  of  pensions  were  being  done  from  the  total  income  of  State  Budget.  Aharon  Chilingaryan  presented  that  multidegree  pension  system  would  enact  in the  result  of  pension  reforms.  The  member  of  the  RA  Central  Bank  Council referred  in  details  the  compulsory  and  cumulative  components,  presenting  the  opportunities  and   advantages  of  new  system.  

In  the  end  Aharon  Chilingaryan  answered  the  audiences  questions.