Dem am (I am against) civil initiative is planning to hold a series of protests in the near future. They are displeased with the new bill of the Armenian government on the Funded Pensions which suggests replacing the pension fund by a social payment which is a mandatory payment made to the state budget. Under the new bill, the rate of the social payment is suggested to be five percent. It will be mandatory for public sector employees, and the private sector will have an opportunity to voluntarily participate in the system till 2017. The compulsory norm will be introduced in the private sector from July 1, 2017.
Arsen Manukyan, a member of the pressure group says the bill has nothing to do with ‘decent aging.’
“This new package only presents the interests of a small group. The bill was passed with rough violations of the Rules of Regulations. In 15 minutes the bill passed through two readings which shows that there was a concrete political order that came from senior Republican officials,” he said.