Mandatory pension pillar cannot be applied after constitutional court ruling – opposition MP

Mandatory pension pillar cannot be applied after constitutional court ruling – opposition MP

YEREVAN, April 3. /ARKA/. The mandatory pillar of the new funded pension law cannot be applied after the Constitutional Court made its ruling on Wednesday, said member of Armenian parliament from opposition Dashnaktsutiun part Artsvik Minasyan.

The party will be watching closely so that no illegitimate interference is used to anyone, the lawmaker told a press conference Wednesday.

September 30 is set as the deadline, but the court decision specifies it is done for the government and the parliament to have time to harmonize the legislation with the ruling.

“This is of key importance. The government will make an attempt to hold these amounts saying the law is still in force”, 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--

12:24 03.04.2014

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