YEREVAN. – Armenian PM confirmed that three of five points proposed by four parliamentary factions on pension reform were accepted by the government.

“The draft bill will be submitted to the parliament on Monday, and you will see that the mandatory element of the mandatory pension plan is canceled,” Hovik Abrahmyan told reporters before the meeting of RPA executive body.

 The government is preparing a bill on temporarily suspending the mandatory funded component of the pension payments. The final version of the bill, which proceeds from the April 2 decision by the Constitutional Court, will be ready by the end of September.

On April 2, the Constitutional Court (CC) of Armenia declared unconstitutional a whole series of articles in the new Law on Funded Pensions. Despite this ruling, however, the state-run financial institutions still obliged the employers to make mandatory funded pension cuts from the salaries of their employees. The respective reasoning was that the CC gave the parliament and the government until September 30 to amend the aforesaid law’s provisions that were deemed unconstitutional.