The mandatory pension contributions scheme offered by the Armenian Government is a progressive instrument successfully applied in dozens of countries worldwide, Director of Alternative Analytical Center Tatul Manaseryan told journalists on Friday.
He said that one of the authors of the scheme, President of the International Center for Pension Reform Jose Pinera successfully applied it in Chile.
"The problem here is that in Armenia people do not trust this scheme. They are afraid that years after they will not be able to get their money back as was the case in the Soviet times. Here much depends on confidence," Manaseryan said.