YEREVAN. – The Constitutional Court (CC) of Armenia will decide, by no later than Saturday, whether the new accumulated pension law will enter into force, or be suspended, prior to the consideration of the petition on this law.  

CC Press Secretary Hovhannes Papikyan told the abovementioned to Armenian News-NEWS.am.  

Papikyan noted that the exact date is not yet known as to when a decision will be made on when the law will either be entered into force, or be suspended. 

The aforesaid petition, which the four non-ruling-coalition National Assembly factions—specifically, the Armenian National Congress, Prosperous Armenia, ARF Dashnaktsutyun, and Heritage—had submitted, will be examined on March 28.  

The new cumulative 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.