Makarian: Employer answerable for contributions with his property

The law on accumulative pensions has an article, under which the employer’s property is seized in case of non-payment of pension contributions, Chairman of the Union of Armenian Employers Gagik Minasian said today at the sitting of the Social Council of the RA State Commission for the Protection of Economic Competition.

According to him, given the fact that small and micro businesses and private entrepreneurs make up 98% of businesses in Armenia, it turns out that employers are answerable for pension contributions with their own property.

“We solve a problem for our citizens, but we shift that burden to employers,” Makarian stressed, adding that an employer is responsible for signing a contract with employees and paying salaries, while such a sanction is not stipulated even in the Law on Taxes.