Swiss Ambassador to Armenia Lukas Gasser: Switzerland will try to contribute to a peaceful settlement of the Nagorno-Karabakh conflict without questioning the established formats such as the OSCE Minsk process
by Ashot Safaryan
The Civic Initiative Against Compulsory Pension Contributions is collecting signatures in Facebook against defined contribution pension system in Armenia.
They believe that the law on defined contribution pension system is contrary to the country's constitution.
"It implies a 5-9% cut in the wages in a country where 40% of people are poor. It obliges the citizens who were born after 1974 to pay contributions to some unknown funds just to get a pension when they retire. But the point is that they will get no interest for their money while the structures that control those funds will invest it abroad and get super-profits. So, we urge the Human Rights Defender of Armenia to dispute the constitutionality of the law. We have already collected more than 7,000 signatures and are firmly resolved to use all legal means to fight against this system," says the initiative.