Protest against accumulative pension system staged outside government building
A protest against the introduction of the accumulative pension system is taking place near the building of Armenian government.
“We are here to address the government,” said one protester, demanding to revoke the law on accumulative pension system.
The protesters noted that the law, entering into force on January 1, 2014, will lead to a decrease of their incomes by 7-13% and worsening of their social condition.
“We will continue our struggle until the problems we raise are given a solution,” the protesters said.
The Law on the Accumulative Pension System stipulates that Armenian citizens born after 1974 must transfer from 6.6% to 13% of their wages to the pension fund.