Parliament to vote on postponement of compulsory pension system introduction tomorrow
At the beginning of tomorrow’s session, Armenian parliament will vote on the postponement for a year of the introduction of compulsory accumulative pension system. The parliamentary factions expressed their stance as the issue was discussed today.
Prosperous Armenia, Armenian National Congress, Heritage and ARFD factions spoke against the introduction of the system and proposed the parliament majority to postpone it for one year so as to create such system that will be acceptable to everyone.
The Law on the Accumulative Pension System, which enters into force on January 1, 2014, stipulates that Armenian citizens born after 1974 must transfer 5% of their wages to a private pension fund.