Epress.am News from Armenia
The United States supports the policy adopted by Armenia's authorities in the pension system, said US Ambassador to Armenia John Heffern at the third annual pension conference on the new pension system organized by the Pension System Awareness Center Foundation.
The US ambassador advised the Armenian government to take initiatives to provide detailed and clear explanations about the reform to all citizens of the country.
He also stated that the mandatory pension system in the US is not privately owned. "There are debates in the US that some private companies and political parties would also like to see a private pension system," he said.
The ambassador touched upon the public's distrust of the two funds that will be managing citizens' contributions. "Under this reform, the pension funds will be managed privately by two highly respected international funds managers — one French and the other German/Austrian with long track records of success," he said.