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March 29
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YEREVAN. – The Constitutional Court of Armenia on Wednesday ruled unconstitutional the disputable articles of a law on mandatory pension plan (photo).

The new funded 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.

The law caused dissatisfaction among Armenia’s civil society, and therefore paved the way for the establishment of the “Dem.Am [I am against]” civic initiative, which opposes the new pension law in Armenia.

The four non-ruling-coalition parliamentary factions have filed a lawsuit to Constitutional Court saying mandatory component is unconstitutional.

Photo by Arsen Sargsyan/NEWS.am

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