Government looks into violations on people’s withdrawal from funded pension system in Armenia

Government looks into violations on people’s withdrawal from funded pension system in Armenia

YEREVAN, June 12. /ARKA/. Armenia’s government is studying reports about violations related to employees’ withdrawal from the funded pension system, Armenian vice-premier and minister of territorial administration Armen Gevorgyan said at Wednesday’s government hour in the parliament.

According to mass media allegations, employees of state enterprises and the educational institutions are not given a chance to withdraw from the funded pension scheme other that along with writing a resignation.

The vice-premier said the law is still in force and urged members of the parliament to report such cases to the government so that the required measures can be taken.

On May 26 Armenia’s president Serzh Sargsyan signed the amendments to the law about the funded pension system passed by the parliament. Under the amendments, Armenian citizens who wish to get mandatory pension fees paid since January 1, 2014, refunded, should write an application. The measures under the amendments are temporary. The final law package shall be adopted by September 30. –0--

11:31 12.06.2014

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