April 3, 2014 - 22:05 AMT
PanARMENIAN.Net - Armenian Prime Minister Tigran Sargsyan has resigned, vice speaker of the Armenian National Assembly Eduard Sharmazanov said upon completion of the meeting of the ruling Republican Party of Armenia.
Sharmazanov said Sargsyan submitted resignation a month ago, however the President insisted that the PM should not leave the post unless the Constitutional Court rules on the controversial pension reform, according to Novosti Armenia.
In a Facebook post, Sargsyan said it was a well-considered decision while Sharmazanov said personal issues were involved as well.
Armenia's Constitutional Court declared controversial clauses to the law on cumulative pensions invalid on April 2. At a hearing on Wednesday, the court ruled that provisions imposing mandatory cumulative pension system are at conflict with the country's basic law. The court decision noted that the law fails to indicate requirements for those with minimum salaries of AMD 45000, with every citizen entitled to a salary no lower than a minimum one. According to the Constitutional Court, the government and parliament must protect the citizens’ right to ownership. The disputed provisions, which went into effect on January 1, obligated all employed citizens under 40 to allocate 5% of their monthly salaries to cumulative accounts, with the government to add another 5%.
Tigran Sargsyan has been a Prime Minister since April 9, 2008.
From 1998 to 2008 he served as the chairman of the Central Bank of Armenia.