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Armenia’s Law on Accumulative Pensions will function until September 30. The legal norms, which were declared unconstitutional, will act, chairman of the Standing Committee on State and Legal Affairs of Armenia’s National Assembly David Harutyunyan told Armenpress. 

When asked, “What does it mean that some provisions of the law are unconstitutional?”, David Harutyunyan replied, “It may mean one thing: let us suppose that the government is given some powers, which should be made in accordance with the law. Let us take the security of that money: some responsibility should be defined with the management not by the decision of the Central Bank but in accordance with the law. If not, that would be considered unconstitutional. From that point of view, corresponding changes should be made.”

The Constitutional Court of Armenia (CC) has declared invalid a number of provisions of the Law on Accumulative Pensions. At today’s hearing, CC ruled that the provisions declaring the accumulative pension system mandatory are unconstitutional.