YEREVAN. – Those fighting against the new cumulative pension law in Armenia held an automobile demonstration on Thursday morning at Republic Square in capital city Yerevan. (PHOTOS)

A large number of people circled around the square with their cars and taxis, for about 1.5 hours, waving “I am against” banners and holding signs informing about the large assembly slated for Saturday.    

The demonstration, however, caused a traffic jam, and the police demanded from the protesters to leave the square. But the demonstrators did not leave the square, and therefore the police began writing down the license plates of the vehicles—including the taxi cabs—taking part in this action.     

Some of the participants in the demonstration had come to the Republic Square with their families. 

A large gathering-march is expected to be held Saturday at Yerevan’s Liberty Square. Those fighting against the new cumulative pension plan and the representatives from the four non-ruling-coalition factions—specifically, the Armenian National Congress, Prosperous Armenia, ARF Dashnaktsutyun, and Heritage—of the Armenian National Assembly will take part in this event.   

The participants in the demonstration will demand the cancellation of the new cumulative pension plan in Armenia.

The aforementioned 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.