YEREVAN. – The Constitutional Court of Armenia will rule on the lawsuit on the controversial mandatory pension plan on Wednesday, spokesperson for the Court Hovhannes Papikyan wrote on Facebook.

He said they will further inform about the exact time.

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.

The four non-ruling-coalition parliamentary factions have filed a lawsuit to Constitutional Court saying mandatory component is unconstitutional.