Four banks and postal operator chosen to operate Armenian pension funds accounts

10.12.2013 18:35
Four banks and postal operator chosen to operate Armenian pension funds accounts

YEREVAN, December 10. / ARKA /. Araratbank, Ardshininvestbank, Armbusinessbank , VTB Bank (Armenia) and HayPost national postal operator  have signed agreements with Armenia’s Central Depository to operate pension funds accounts, the Central Bank said today.

It said to select a pension fund and a fund manager future pensioners (those born after January 1m 1974) should visit My Account page at  www.epension.am. Beginning from today they can also do so through above-mentioned operators.

According to the Central Bank, accounts operators and their employees are banned from advertising or otherwise directing future pensioners to choose this or that pension fund and a fund management company.

If a future pensioner can not choose a fund, but has chosen a fund managing company, the mandatory system’s information system (AMPIS) will choose for him or her conservative type of fund management of the company already chosen by the future pensioner.

If a future pensioner has difficulty in choosing a  pension fund and a fund manager, AMPIS  will randomly select for him or her the  conservative fund of  a managing company.

Earlier the Central Bank awarded licenses to AMUNDI-ACBA ASSET MANAGEMENT and C-QUADRAT AMPEGA ASSET MANAGEMENT companies to run investment funds in Armenia. -0-


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