State Revenue Committee gives explanation on accumulative pension

The State Revenue Committee (SRC) under the Armenian government has recently received many proposals from various mass media outlets that propose that the spaces for compulsory accumulative pension payments be removed from the income tax and accumulative payment electronic form, according to the press service of SRC.

Numerous citizens applied to SRC proposing that it should refrain from choosing a pension fund and a fund manager based on a software module, instead of citizens.

SRC says that the software for reception and processing of income tax and compulsory accumulative pension payments and for their accounting was developed, taking into account the respective requirements specification which is approved and changed by the Pension Reform Management Council created under the prime minister’s decision No 58-H of February 4, 2010.

The SCR can address this issue as well as other issues stemming from the Constitutional Court decision after the Council takes the relevant decision, and the public will be informed about it.

As regards numerous applications of citizens who propose refraining from choosing a pension fund and the fund manager instead of citizens, based on a software module, the SRC says it has no power to choose a pension fund and its manager instead of citizens.

Under the Law on Accumulative Pensions, Armenia’s Central Depositary has power to keep the register of the compulsory pension system.