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Parliament adopts law to suspend mandatory funded pensions

Parliament adopts law to suspend mandatory funded pensions

PanARMENIAN.Net - Armenia’s National Assembly has passed a law at a Thursday, May 15 session to suspend mandatory funded pensions, ARKA reported.

Under the amendments, Armenian citizens who want to get a refund for the pension fees charged since January 1 2014 should write an application. The amendment provisions are temporary and will be valid until legislation is changed as required by the April 2 Constitutional Court ruling (deadline for the final law is September 30).

The bill was passed with 67 votes for and 18 against; 29 MPs abstained from voting.

Non-coalition Prosperous Armenia, ARF Dashnaktsutiun and Orinats Yerkir factions said they did not oppose to the bill as it was half a step ahead of the previous law, but abstained from the vote.

Orinats Yerkir faction voted against the bill in this second reading, as, the secretary of the faction Hovhannes Margaryan said, the government turned down their proposal to allow citizens that are against the new system withdrawing of payments without application.

The Armenian National Congress and the Heritage factions also voted against the amendment.

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