Govt. de facto halts mandatory component of new pension law

April 23, 2014 - 15:23 AMT

PanARMENIAN.Net - The new Prime Minister announced conditions necessary to organize implementation of pension reforms at an April 23 governmental sitting. As Hovik Abrahamyan noted, the clauses voiced in the announcement were readied after he familiarized himself with the issues of concern, met with representatives of the I Am Against civil movement, held discussions with parliamentary forces and Armenian President.

According to PM, pension reforms are necessary to provide Armenian citizens’ social security in the old age, with the country’s political and social forces to join efforts for the cause. As he further noted, parliamentary discussions will launch April 28 to suspend penalties under the mandatory cumulative pension law, with the mandatory component of the law to be halted.

Also, Abrahamyan said, according to the Constitutional Court ruling, the package of pension reforms will be amended by September 30 to become more acceptable for wide masses.

“Though the mandatory component of the pension reforms will be preserved in Armenia, we are obligated to develop a generally acceptable formula,” the PM concluded, reiterating decision to de facto halt the mandatory component of the pension law before the adoption of a new package of laws.