More than 180 thousand citizens are currently taking part in the accumulated pension system. Armenian Labor and Social Affairs Minister Artem Asatryan stated this at a news conference today, summarizing the first year of his activity.

"At the expense of those who enter the labor market for the first time in the private sector there are more participants than in the public sector," A. Asatryan said.

According to him, about 80 billion drams are funded by accumulative funds, and individuals' funds have increased by about 32 percent. The Minister highlighted the active participation of citizens in account management.

According to A. Asatryan, after discussing the issue of introducing the mandatory funded pension in the Constitutional Court, the citizens were given the opportunity to feel the effectiveness and to think about the pension.

"Implementation of pension reforms is one of the most difficult in the world," A. Asatryan said, adding that there is a problem to discuss the results of the system.

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