Kharatian: Accumulative pension system’s introduction is inopportune

The introduction of the compulsory accumulative pension system in Armenia is inopportune, the Deputy Chairman of the Confederation of Trade Unions of Armenia Boris Kharatian said at a press conference today.

In his words, the Confederation of Trade Unions has repeatedly expressed this view since 2010.

“The average monthly wage in Armenia is 150-180 thousand drams, whereas a compulsory accumulative pension system is efficient only in case of high wages when workers can meet needs of their families and also save some money,” Kharatian noted.

When asked if they ever raised the issue of the disparity between the minimum wage and the consumer basket, he replied there is no official minimum consumer basket in Armenia.

“Various methodologies were used for calculations, which gave different results. The current minimum wage of 45,000 drams does not include any calculations, which leads to an unpredictable situation,” B. Kharatian said.