State Revenue Committee, Minitry of Finance shrink from responsibility

While 80 percent of the public is campaigning against the mandatory funded pension system, the government cannot decide which state body will be responsible for managing the funds collected from citizens.

Under a draft resolution included on the agenda of the Cabinet’s next session, the responsibility of transferring the accumulated money to the relevant funds will likely be laid on the State Revenue Committee. The draft bill was proposed by the Ministry of Finance. In its turn, the SRC is trying to shift the responsibly upon the Ministry.

“The draft bill conflicts with certain provisions of the RA Law on Funded Pension, specifically Articles 1 and 17, which envisage that payments to funds are to be paid by the Ministry of Finance,” said the SRC