In case the Constitutional Court rules that the pension reform is legal and constitutional, employees will have to transfer to relevant funds deductions from their January-February wages, Samvel Nikoyan, a senior representative of the ruling Republican Party of Armenia (HHK), told a press conference on Feb. 14.
“The law went into effect on January 1, 2014 and if approved by the CC on March 28, deductions will be made from the salaries of January and February,” said the Republican MP.
Mr. Nikoyan says the government carried out the reform to ensure a dignified and safe future for the next generations, rather than increase its own reputation. “The problem is that our citizens do not have confidence in the reform but we should understand that we are dealing with reputable and powerful international funds and not with the RA budget,” he said.
One of the advantages of the new pension system, Nikoyan says, is that employees can inherit the pension funds to their generations, in case any misfortune happens to them.
The Constitutional Court is scheduled to open hearings on the appeal against the reform on March 28.