YEREVAN. – Only in the end of February Armenian citizens will feel how they were deceived by pension plan, says the member of “We are against compulsory cumulative pension reform” initiative.

“Only now seeing the gas bills people understand what the gas price hike means. In February they will see what in fact happened with pensions,” Gevorg Gorgisyan said.

He noted that allocations to the private pension funds will make not 5% but will total from 6,6 percent till 13.5.

“More people will join us when they see this. Besides, it will become warmer,” he noted.

The activists will hold a rally in Liberty Square at 2p.m. that will be followed by a march to the Republic Square.

The new cumulative pension plan 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 allocated to private pension funds; the latter will be reimbursed as pensions once a person turns 63 years old.

Photo by Arsen Sargsyan/NEWS.am