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Employees of Yerevan Metro join "I Am Against!" movement

  • by Marianna Mkrtchyan

  • Wednesday, February 12, 12:04

The employees of the Yerevan Metro have joined the "I Am Against!" movement.

In its Facebook page the movement reports that some 30 employees gathered near the Metro's central office to inform their managers that they are against the compulsory accumulate pension system and to demand that the managers give back the money they have retained from their wages this month. 

"They didn't even tell us they would retain the sum this month, nor have we so far chosen the fund we want to send our contributions to," the protesters say.

The voluntary accumulative pension system was introduced in Armenia on Jan 1 2011. The system became compulsory starting Jan 1 2014. According to the new system, the minimum 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). It is noteworthy that 6.6%-13% and not 5% of the monthly wages will be charged, as the charges will be made from the so-called "brutto-salary."

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