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The accumulative pension system will operate through co-financing by the state

The accumulative pension system will be introduced in Artsakh from July 1, 2019.

The accumulative pension system will operate through co-financing by the state

The accumulative pension system will operate through co-financing by the state

STEPANAKERT,  DECEMBER 27, ARTSAKHPRESS: It will operate with the maintenance of a certain portion of salary, which will be directed to the accumulative account opened in the name of each person.

As "Artsakhpress"reports, Artsakh State Minister, Grigory Martirosyan stated this at the press conference on December 27, adding that the citizen’s payment in this system is mandatory.

In the case of the accumulative pension system, a person pays an accumulative or social payment, a part of which is paid by a citizen and the other part by the state. 5 + 5 system was operating in Armenia.

It has temporarily changed with the following logic: 2.5% is paid by a citizen and 7.5%-from the state budget. This system will also be introduced in Artsakh. The program will only cover persons born after January 1, 1974.


     

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