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NEW PENSION SCHEME TO ACCELERATE BRAIN DRAIN - DEMOCRATIC PARTY OF ARMENIA
YEREVAN, February 13. / ARKA /. Aram Sarkisian, head of a small
Democratic Party of Armenia, says the new pension scheme effective
in Armenia from January 1 this year may accelerate the " brain drain. "
Speaking at a news conference he said the majority of Armenian citizens
are not happy with the current situation in the country, however,
the impression is that the authorities ignore their dissatisfaction.
According to Sarkisian, out-emigration is being accelerated also by
widespread discontent not only at the pension reform, but also by
worsening standards of living and a number of other woes.
"Our border villages are emptying and, who knows, maybe when the
Armenian- Turkish border opens, Turks would come to settle in
our country. Our president must change the political course, to
eliminate the oligarchic system, because otherwise the situation
would deteriorate significantly," he said.
The Constitutional Court of Armenia suspended Article 76 of the new
law, which provides for penalties for failed or delayed pension tax
payments, and the third paragraph of Article 86, which obligates
employed citizens to choose a pension fund, among other parts of the
law. The Court says it will conclude the inquiry on March 28, 2014.
The constitutionality of the new pension law was challenged by three
opposition parties in the National Assembly -- the Armenian National
Congress, the Armenian Revolutionary Federation, and the Heritage Party
-- along with the usually pro-government Prosperous Armenia Party.
The new pension system requires that all Armenian citizens born
after 1973 pay social security taxes equivalent to 5 percent of their
monthly wages, which will be matched and doubled by the government.
That money has to be deposited with private pension funds licensed by
the government late last December. They are Amundi, which was set up by
French banks Credit Agricole and Societe Generale, and Cologne-based
Talanx Asset Management, a subsidiary of German insurance firm
Talanx. -0-
- See more at:
http://arka.am/en/news/economy/new_pension_scheme_to_accelerate_brain_drain_democ ratic_party_of_armenia_/#sthash.fw0UBHNo.dpuf
YEREVAN, February 13. / ARKA /. Aram Sarkisian, head of a small
Democratic Party of Armenia, says the new pension scheme effective
in Armenia from January 1 this year may accelerate the " brain drain. "
Speaking at a news conference he said the majority of Armenian citizens
are not happy with the current situation in the country, however,
the impression is that the authorities ignore their dissatisfaction.
According to Sarkisian, out-emigration is being accelerated also by
widespread discontent not only at the pension reform, but also by
worsening standards of living and a number of other woes.
"Our border villages are emptying and, who knows, maybe when the
Armenian- Turkish border opens, Turks would come to settle in
our country. Our president must change the political course, to
eliminate the oligarchic system, because otherwise the situation
would deteriorate significantly," he said.
The Constitutional Court of Armenia suspended Article 76 of the new
law, which provides for penalties for failed or delayed pension tax
payments, and the third paragraph of Article 86, which obligates
employed citizens to choose a pension fund, among other parts of the
law. The Court says it will conclude the inquiry on March 28, 2014.
The constitutionality of the new pension law was challenged by three
opposition parties in the National Assembly -- the Armenian National
Congress, the Armenian Revolutionary Federation, and the Heritage Party
-- along with the usually pro-government Prosperous Armenia Party.
The new pension system requires that all Armenian citizens born
after 1973 pay social security taxes equivalent to 5 percent of their
monthly wages, which will be matched and doubled by the government.
That money has to be deposited with private pension funds licensed by
the government late last December. They are Amundi, which was set up by
French banks Credit Agricole and Societe Generale, and Cologne-based
Talanx Asset Management, a subsidiary of German insurance firm
Talanx. -0-
- See more at:
http://arka.am/en/news/economy/new_pension_scheme_to_accelerate_brain_drain_democ ratic_party_of_armenia_/#sthash.fw0UBHNo.dpuf