YEREVAN. – An Armenian citizen by the name of Nikolay Karapetyan, 67, on Friday attempted to set himself on fire in front of the Ministry of Finance building.

He poured a bottle of gasoline on himself, but the police officers—who were in the vicinity in order to maintain public order during the “I am against” civic initiative’s demonstration near the building, and against the new pension law in Armenia—prevented Karapetyan from setting himself on fire, the Armenian News-NEWS.am reporter informs.

Karapetyan stated that his mother had died at the age of 88, but without being repaid her savings in the ex-Soviet banks, and that the new pension law likewise is a way of robbing people.

Holding banners, the “I am against” initiative members are continuing their protest and are criticizing the Finance Ministry for obligating employers to make mandatory pension deductions from the salaries of their employees.

The new funded pension plan, which formally came into force in Armenia on January 1, 2014, is mandatory for those born in and after 1974 and voluntary for those born before 1974. In line with this plan, 5 to 10 percent of the monthly salaries in Armenia will be deducted and mandatorily be allocated to cumulative pension funds; the latter will be reimbursed as pensions once a person turns 63 years old.

On January 24, however, the Constitutional Court decided to suspend the execution of some components in the Law on Funded Pensions pending the hearing—on March 28—of the petition submitted by the four non-ruling-coalition parliamentary forces—the Armenian National Congress, Prosperous Armenia, ARF Dashnaktsutyun, and Heritage—, and into the constitutionality of the several articles of the law.

Notwithstanding this, some employers already are deducting the mandatory pension payment from the salaries of their employees.