Employers and employees have right not to pay to pension funds after constitutional court decision – lawmaker

Employers and employees have right not to pay to pension funds after constitutional court decision – lawmaker

YEREVAN, April 3. /ARKA/. After the Constitutional Court’s ruling on the funded pension law, employers and employees have the right not to make payments to the pension funds, parliament member from Dashnaktsutiun party Artsvik Minasyan said.

Minasyan also said employers are allowed to get back the payments already made, if requested by employees.

“I would like to warn the government and other members of the system who are not holding the money – they may incur liability for not refunding the payments to citizens”, Minasyan said.

On Wednesday April 2 Armenia’s Constitutional Court declared a number of provisions of the new funded pension plan law conflicting with the country’s constitution and, hence invalid. The Court set September 30 as the deadline for harmonizing the funded pension legislation with its decision. All payments to pension funds charged under the new funded pension law before the ruling must be refunded. –0--

11:18 03.04.2014

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