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On April 16, the 52^nd Meeting of the Parliamentary Assembly of the Black Sea Economic Cooperation (PABSEC) Cultural, Educational and Social Affairs Committee was held in Yerevan.

The key issue for discussion was the Pension Systems in the BSEC Member States.

The RA NA Vice-President Lena Nazaryan has noted that the Republic of Armenia as a founder member of the organization and its parliamentary format highlights the expansion and strengthening of cooperation within the framework of the PABSEC, one of the important bodies of boosting the cooperation in the region. According to her, in the modern world the parliamentary diplomacy and the multilateral cooperation is of great importance and actuality.

“We strive for legally equal development of cooperation taking into consideration each other’s interests with the PABSEC Member States. The Assembly Member States have many common goals, among them the establishment of peace, stability, welfare and good neighbourly relations,” Lena Nazaryan noted. Among the priorities of the economic development of our country the NA Vice President distinguished the spheres of innovative and high, as well as information technologies and telecommunication, the sub-structural construction, the military industry, the agriculture, the tourism and renewing energy. “Undoubtedly, some tension existing in the region impedes the expansion of the economic cooperation between certain countries. The development of economic integration and the consolidation of the economic potential of the regional states can be a good precondition for responding the existing challenges and strengthening of stability,” the Vice President of the National Assembly noted.

Touching upon the pension system of Armenia, Lena Nazaryan has underlined that it includes the state pension insurance, the accumulative and voluntary pension components. She has informed that during last years the events being implemented in the state pension insurance were directed at the improvement of the providing service quality, the upgrading of the ‘electronic pension’ information system: in the process of appointing and paying the pensions and allowances, by reducing the existing risks, providing accessibility and simplifying the administration of the appointment and payment process of the pensions and allowances. According to the NA Vice President, works are done in the sphere of pension insurance with the EEU member states for signing Inter-State Agreement, as well as Armenia regularly discusses problems relating to the pension insurance with the European countries.

Lena Nazaryan expressed conviction that the discussion on the items included in the agenda of Yerevan Meeting would promote the further rise of the organization’s rating and having more practical results.

The Committee member Anugh Begloian presented the peculiarities of Armenia’s pension system. The speaker has informed that the pension system of Armenia includes state pension insurance, component of providing accumulative and voluntary pensions.

Anush Begloian has underscored that as a result of making amendments and addenda to the RA law on State Pensions, the minimum pension is 25500 drams. According to the RA Government programme, it is also designed to regularly raise the state pension.

The member of the Committee Lyudmila Bokova presented the pension system of Russia.

Summing up the 52^nd Meeting of the PABSEC Cultural, Educational and Social Affairs Committee the representative of Turkey, the Chairman of the Committee Metin Gungogdu stated that the discussions were aimed at the improvement of the pension systems. He informed that the next Meeting will be held in Serbia.