YEREVAN, December 17. /ARKA/. A rally against introduction of mandatory funded pension system in Armenia is to take place in Yerevan Tuesday, Novosti-Armenia reported quoted the initiators.
Protesters will start at Liberty Square 12:30 local time and walk to the Constitutional Court on Baghramyan Avenue.
Four factions of the Armenian Parliament, ARF Dashnaktsutiun, Heritage, Prosperous Armenia and the Armenian National Congress, will file a suit in the country’s Constitutional Court to recognize several funded pension system law provisions unconstitutional.
The suit will include a petition to suspend the law as from January 1.
On December 4 Armenia’s parliament voted against suspending introduction of the funded pension system, requested by the above-mentioned factions of the parliament.
Under the new pension plan to come into effect in January 2014, all Armenian citizens born after January 1, 1974 will have to transfer five percent of their nominal salaries to their personal retirement savings fund. The government promises to transfer as much every month, but no more than 25,000 drams ($62). ($1=404.94drams). -0-