A US-supported pension-reform project has ground to a halt in Armenia amid a popular outcry over whether the state can compel taxpayers to plan for retirement.
Pensioners account for roughly 18 percent of Armenia’s population of 2.8 million, according to the National Statistical Service. Currently, retirees receive monthly state pensions of 25,000-40,000 drams ($61-$100) -- amounts generally not deemed adequate to meet basic living expenses. Already struggling with a relatively weak economy, many Armenian families don’t have enough income to help out elderly relatives.
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ane Abrahamyan is a freelance reporter and editor in Yerevan.