Newsfeed

Converse Bank announces second launch of "Team of the Future" program in 2014

VivaCell-MTS supported MES in the creation of backup server center for the Government of RA

Azerbaijan panic-stricken by Lithuania-Artsakh Parliamentary Friendship Group's visit to Artsakh

Political expert: California Senate-adopted Resolution - AJR 32 demonstrates Armenian lobby's muscle

Doubled data and off-net minute inclusions for Orange Panther customers

Hakob Injighulyan's brother refutes information that Hakob is currently in Romania

VTB Bank (Armenia) takes the lead in brand awareness among Armenia's banks

Beeline Regular and Premium unlimited mobile internet services become available for postpaid subscribers

Despite protests of environmentalists, Mego Gold Company gets permission to launch construction of third Tukhmanuk tailing dump

The 6th Pan-Armenian Barbeque Festival will be held in Akhtala on 6 September

Artak Zakaryan: Turkey's efforts cannot help resolve Karabakh conflict

Davutoglu says Ankara will do everything to end "occupation of Azerbaijani territories and Nagorno Karabakh"

President Bako Sahakyan addresses people on occasion of the Day of the Artsakh Republic

Armenian Center of Culture and Education in Israel to organize action demanding recognition and condemnation of Armenian Genocide

Armenia verifying reliability of the reports on an Armenian civilian's crossing the border with Azerbaijan

President of Armenia: Artsakh's independence - irreversible reality now

Nalbanian cannot say when Erdgoan will accept Serzh Sargsyan's invitation

Rostelecom announces new reduced tariffs starting 1 Sept 2014

VTB Bank (Armenia) funds repair and equipment of math classroom at secondary school No.21

Tickets of "Armenia" train running Yerevan-Batumi-Yerevan become cheaper

All outgoing calls to Beeline fixed-line network to cost 5 AMD per minute starting from 1 Sept 2014

Hakob Injighulyan is currently in Romania

Prime Minister of Georgia: Kazbegi Checkpoint on Georgian-Russian border will operate in limited emergency regime

Ilham Aliyev speaks of foreign forces' attempts to destabilize the political atmosphere in Azerbaijan

Armenian citizens' visa-free stay in Georgia to last 90 days within half a year

March of Peace, Unity and Solidarity in Yerevan

U.S. Embassy in Baku offers excuses: California Senate's decision does not represent national foreign policy

Eduard Sharmazanov: Robert Kocharyan said nothing new

A Radisson Hotel may open in Armenia

Armenia institutes a criminal case suggesting international terrorism over Azerbaijan's fire attacks on Armenian borderline villages

VTB Bank (Armenia) presents gifts to children of Full Life NGO's Inclusive Summer Camp

Azerbaijan transfers Hakob Injighulyan to a third country

Armenian analyst considers Edward Nalbandian's participation in Turkish president's swearing-in ceremony to be a diplomatic mistake

Union of Banks of Armenia hosts discussions on development problems of Armenia's financial and banking sector

Volunteers from the Diaspora visit VivaCell-MTS headquarters

Robert Kocharyan is not optimistic about prospects of final settlement of Karabakh conflict

Edward Nalbandian invites Erdogan to visit Armenia on 24 April 2015

Robert Kocharyan: The regime able to forget personal interests is doomed to success

Beeline cuts down tariffs for fixed-line telephony services

Expert: California Senate-adopted Resolution - AJR 32 is a response to Baku's blackmailing policy

Robert Kocharyan: It would be wrong thinking that Armenia's economy may gain from sanctions against Russia

RPA: Pension tax may be added to income tax

  • by Nana Martirosyan

  • Thursday, May 8, 09:50

 The pension tax may be added to the income tax to replace the accumulative pension system, Vardan Ayvazyan, an MP from the ruling Republican Party of Armenia, the Head of the Parliament Committee for Economic Affairs, told reporters, Wednesday.

"It is quite probable that the income tax will be reduced from 25% to 20% to transfer these 5% to the accumulative funds. As a result, the pension reform will not affect the incomes of the citizens. However, this is only one of the probable ways to resolve this problem," Ayvazyan said. " Since the Constitutional Court has recognized the mandatory component of the pension system unconstitutional, the citizens are free to decide whether to make payments or not. Those who have already made payments can write an application and demand their money back," he said. Nevertheless, the Republican parliamentarian said the pension system is still vulnerable and needs reform.  "45 thousand cannot satisfy the needs of pensioners. So new solutions are needed," he said.

However, the Finance Ministry of Armenia replied to ArmInfo's request over the issue saying that no changes in the system of mandatory pension payments are expected until September 2014. "These funds are automatically transferred with a special program and nothing can be changed." They in the Ministry said. Asked if it is possible to stop the process through a special application to the Ministry, the parliamentarian replied negatively.

On April 2 the Constitutional Court (CC) of Armenia cancelled the mandatory component of the accumulative pension system. Head of the Constitutional Court of Armenia Gagik Haroutiunyan read out the CC's 64-page verdict on 2 April.  The Constitutional Court adopted a decision to recognize the law null and void in the parts that infringe the citizen's right to manage his own salary. The CC has recognized invalid all the disputable articles of the law, as they are interconnected. The CC has announced 30 September the deadline for the Government and the Parliament to bring the law in line with the requirements made. The decision of the CC comes into force at the moment of announcement.

However, Felix Tokhyan, a member of the Constitutional Court, says the Law on the Mandatory Accumulative Pension System will be valid till 30 September, and the citizens are reluctant to continue making pension payments to the accumulative funds.

Meanwhile, a number of lawyers and opposition politicians consider that after the Constitutional Court's verdict the employers and employees no longer have to make pension payments. Moreover, they say that from now on the payments will be made on the voluntary basis only.
Meanwhile, Prime Minister Hovik Abrahamyan promised a decision on the pension reform that will meet the interests of all the parties concerned till July 2014.  

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields