Armenian Government responds to CC decision

In its verdict published earlier Wednesday, the Constitutional Court of Armenia found a number of disputed provisions of the funded pension law to be unconstitutional.

The Constitutional Court noted that the experience of more than 50 countries shows that the introduction of funded pension system increases the stability of the country and promotes the well-being of its citizens.

At the same time, the CC said certain provisions of the law recognized as unconstitutional should be amended before September 30 otherwise they will lose their validity. The Government will consider the reform aimed at improving people’s welfare and adopt a program of actions after receiving and studying the CC ruling.