Vestnik Kavkaza, Russia
Jan 6 2014
Armenia launches new pension system
6 January 2014 – 11:37am
Armenia adopted a new pension system on January 1, according to the
new law on pensions signed by President Serzh Sargsyan on December 28.
5% of salaries in Armenia will be allocated to a private pension fund.
The government will add an equal amount of money.
Armenians earning over 500,000 drams (about $1,233) will have state
allocations worth a maximum of 25,000 drams (about $62)
The public was outraged by the new system. A protest started in
Yerevan on December 14. Activists dressed as Santa Claus and demanded
the system to be abolished.
From: Emil Lazarian | Ararat NewsPress
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