YEREVAN, January 30. /ARKA/. Armenian citizens should show respect for any decision of the Constitutional Court on the fund pension system, Artak Davtyan, an MP from the Republican Party of Armenia, said Friday at a news conference.
«Of course, it is still impossible to predict what will the Constitutional Court decide, but all of us should understand that this is the final authority and should show respect for whatever it decides,» he said.
The lawmaker from the ruling party said the introduction of this pension system is a very important step for future generations.
In his words, the government takes into account public opinion in making its decisions.
On January 24, Armenia’s Constitutional Court suspended some provisions of the new, controversial law that aims to reform the country’s pension system to launch a detailed inquiry into the constitutionality of the law.
The highest court of the country suspended Article 76 of the new law, which provides for penalties for failed or delayed pension tax payments, and the third paragraph of Article 86, which obligates employed citizens to choose a pension fund, among other parts of the law. The Court says it will conclude the inquiry on March 28, 2014.
The constitutionality of the law was challenged by three opposition parties in the National Assembly — the Armenian National Congress, the Armenian Revolutionary Federation, and the Heritage Party — along with the usually pro-government Prosperous Armenia Party.
The new pension system requires that all Armenian citizens born after 1973 pay social security taxes equivalent to 5 percent of their monthly wages, which will be matched and doubled by the government. That money has to be deposited with private pension funds licensed by the government late last December. -0---