28/03/2014 11:52
Constitutional Court starts hearings on Law on Accumulative Pensions
The Constitutional Court of Armenia has started today hearings of the lawsuit asking the court to recognize some articles of the Law on Accumulative Pensions as unconstitutional.
The compulsory accumulative pension system was introduced in Armenia on January 1, 2014. Under the law, citizens born after January 1, 1974 will have to make 5% compulsory payments from their salaries to private pension funds, and another 5% will be paid by the state.
The lawsuit to the Constitutional Court was filed by four parliamentary factions - Prosperous Armenia Party (BHK), Armenian National Congress (HAK), ARF-Dashnaktsutyun, and Heritage factions.