YEREVAN. – The four non-ruling-coalition factions of the Armenian National Assembly (NA) held a joint consultation on Friday. 

Opposition Armenian National Congress (ANC) bloc NA Faction Head, ANC Party Vice-Chairman Levon Zurabyan confirmed this information to Armenian News-NEWS.am.

The citizens’ initiative, which is fighting against the mandatory cumulative pension plan—which came into force in Armenia on January 1, 2014—, has called for a rally on January 18.  

Zurabyan noted that the four aforesaid NA factions—specifically, ANC, Prosperous Armenia, ARF Dashnaktsutyun, and Heritage—were asked to take part in this rally, and they have agreed to do so.

The new cumulative pension plan—which came into force 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.