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STAFF OF ELECTRIC NETWORKS OF ARMENIA PROTEST AGAINST MANDATORY ACCUMULATIVE PENSION SYSTEM
by Alexandr Avanesov
ARMINFO
Thursday, February 13, 17:31
On 13 February the staff of the Electric Networks of Armenia (ENA)
CJSC organized an action of protest against compulsory accumulative
pension system. They claim that the ENA leadership should have waited
the decision of the Constitutional Court on the constitutionality of
the mandatory component before charging 5% pension contributions from
their salaries. The employees are determined to fight till the end.
Members of the public interest group "I'm Against!" also joined
the protest.
ENA CJSC Spokesperson Natalya Sarjanyan told reporters the company did
not make any illegal actions and observed the requirements of the law.
Sarjanyan assured reporters that the 5% charged form the salary of the
staff are saved on a special account and have not been transferred
to any fund. If the Constitutional Court cancels the law, all the
charged sums will be return to the staff.
Earlier, on 11 February, the staff of the South Caucasus Railway CJSC
organized a similar protest. The law sparked public outrage throughout
the country.
People are discontented not only at the mandatory component of the
system but also at the absurd situation following the Constitutional
Court's decision of January 24 that suspended some provisions of
the Law on the Accumulative Pension until the Court considers its
constitutionality on Mar 28 2014. The Court suspended Article 76
stipulating responsibility for refusing to make compulsory pension
contributions or failing to do in time and Paragraph 3 of Article 86
saying that the employees covered by the system should choose a pension
fund. Nevertheless, the Finance Ministry of Armenia urges employers
to calculate and make accumulative pension payments and employees to
choose a pension fund and a manager for it. The picketers call the
given approach a robbery.
To recall, the voluntary accumulative pension system was introduced
]in Armenia on Jan 1 2011. The system will become compulsory starting
Jan 1 2014. According to the bill, the minimal pension in the country
will be equal to the minimum wage, while the basic pension will total
150% of the minimum wage. The compulsory accumulative pension system
will apply to the citizens born after Jan 1 1974 (the citizens below
40). Starting Jan 1 2014, 5% of their salaries will be transferred
to their personal accumulative accounts. The government will transfer
a similar amount (but no more than 25,000 drams).
From: A. Papazian
by Alexandr Avanesov
ARMINFO
Thursday, February 13, 17:31
On 13 February the staff of the Electric Networks of Armenia (ENA)
CJSC organized an action of protest against compulsory accumulative
pension system. They claim that the ENA leadership should have waited
the decision of the Constitutional Court on the constitutionality of
the mandatory component before charging 5% pension contributions from
their salaries. The employees are determined to fight till the end.
Members of the public interest group "I'm Against!" also joined
the protest.
ENA CJSC Spokesperson Natalya Sarjanyan told reporters the company did
not make any illegal actions and observed the requirements of the law.
Sarjanyan assured reporters that the 5% charged form the salary of the
staff are saved on a special account and have not been transferred
to any fund. If the Constitutional Court cancels the law, all the
charged sums will be return to the staff.
Earlier, on 11 February, the staff of the South Caucasus Railway CJSC
organized a similar protest. The law sparked public outrage throughout
the country.
People are discontented not only at the mandatory component of the
system but also at the absurd situation following the Constitutional
Court's decision of January 24 that suspended some provisions of
the Law on the Accumulative Pension until the Court considers its
constitutionality on Mar 28 2014. The Court suspended Article 76
stipulating responsibility for refusing to make compulsory pension
contributions or failing to do in time and Paragraph 3 of Article 86
saying that the employees covered by the system should choose a pension
fund. Nevertheless, the Finance Ministry of Armenia urges employers
to calculate and make accumulative pension payments and employees to
choose a pension fund and a manager for it. The picketers call the
given approach a robbery.
To recall, the voluntary accumulative pension system was introduced
]in Armenia on Jan 1 2011. The system will become compulsory starting
Jan 1 2014. According to the bill, the minimal pension in the country
will be equal to the minimum wage, while the basic pension will total
150% of the minimum wage. The compulsory accumulative pension system
will apply to the citizens born after Jan 1 1974 (the citizens below
40). Starting Jan 1 2014, 5% of their salaries will be transferred
to their personal accumulative accounts. The government will transfer
a similar amount (but no more than 25,000 drams).
From: A. Papazian