14:32, 2 April 2014

Armenian CC finds mandatory component of accumulative pension system unconstitutional

Today, the Armenia's Constitutional Court (CC) has declared that the mandatory component of the new pension system is unconstitutional. The court decided to suspend the law on the introduction of the new system until September 30, while giving time for the legislative and executive branches of power to bring all the provisions of the law into accordance with the Constitution, the "Caucasian Knot" correspondent reports.

Let us remind you that the consideration of the lawsuit challenging the law "On Accumulative Pension System", which was lodged by four opposition parliamentary factions – the ARF "Dashnaktsutyun", "Heritage", ANC and "Prosperous Armenia" – by the Armenia's CC began on March 28 and was over on March 31.

The CC's decision comes into force from the moment of its announcement; and it will be published, as stated by Gagik Arutyunyan, the Chairman of the CC, two days later. The money deduced from employees should be returned according to the above CC's decision.

Author: Armine Martirosyan

Source: CK correspondent