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SOUTH CAUCASUS RAILWAYS MAKES NO PAYMENT TO PENSION FUNDS, SAYS COMPANY'S CHIEF
11:36 * 12.02.14
The South Caucasus Railways has no more problems with the pension
fund payments that angered many of its employees, according to the
company's CEO.
Speaking to Tert.am, Victor Rebets said he doesn't think that those
who joined the February 10 rally in Yerevan were all employees of
the company. He said he has personally talked to the staff to explain
the situation.
"After my clarifications, which lasted about 45 minutes, they didn't
almost have any question left. I explained that our company made
certain changes in the salary index last year to adjust it to the
funded pension system which is being launched in 2014. Those changes
that we have made are in the interests of the youth, the employees,"
he said, adding that the company has raised the average salaries by
10% against the backdrop of the 5% salary rise recorded in Armenia
(according to the National Statistical Service).
Several employees of the South Caucasus Railways rallied outside
the company's headquarters on Monday to express their anger at the
compulsory pension funds. Activists of I am Against!, the civic group
conducting an active campaign against the reforms, also joined the
protesters. The company's employees demanded that the administration
clarify the reasons behind deducing money from their monthly wages.
The pension reforms, which went into effect on January 1, require
that all the citizens of Armenia born after 1973 pay about 5%-10%
of their salaries to pension funds. The move received a wild public
reaction, with many expressing distrust in the system. On January 24,
the Constitutional Court issued a ruling to temporarily suspend the
mandatory component of the pension law.
Mr Rebets said that the deduced money hasn't yet been transferred to
the pension funds.
"Unless there is a final decision, I maintain those sums on the
company's account. Once the law is suspended, I will transfer them
to the employees' accounts," he promised.
Mr Rebets added the reforms apply to only 1,253 people in the company,
which he said makes up about 28% of the whole staff.
http://www.tert.am/en/news/2014/02/12/rebec/
11:36 * 12.02.14
The South Caucasus Railways has no more problems with the pension
fund payments that angered many of its employees, according to the
company's CEO.
Speaking to Tert.am, Victor Rebets said he doesn't think that those
who joined the February 10 rally in Yerevan were all employees of
the company. He said he has personally talked to the staff to explain
the situation.
"After my clarifications, which lasted about 45 minutes, they didn't
almost have any question left. I explained that our company made
certain changes in the salary index last year to adjust it to the
funded pension system which is being launched in 2014. Those changes
that we have made are in the interests of the youth, the employees,"
he said, adding that the company has raised the average salaries by
10% against the backdrop of the 5% salary rise recorded in Armenia
(according to the National Statistical Service).
Several employees of the South Caucasus Railways rallied outside
the company's headquarters on Monday to express their anger at the
compulsory pension funds. Activists of I am Against!, the civic group
conducting an active campaign against the reforms, also joined the
protesters. The company's employees demanded that the administration
clarify the reasons behind deducing money from their monthly wages.
The pension reforms, which went into effect on January 1, require
that all the citizens of Armenia born after 1973 pay about 5%-10%
of their salaries to pension funds. The move received a wild public
reaction, with many expressing distrust in the system. On January 24,
the Constitutional Court issued a ruling to temporarily suspend the
mandatory component of the pension law.
Mr Rebets said that the deduced money hasn't yet been transferred to
the pension funds.
"Unless there is a final decision, I maintain those sums on the
company's account. Once the law is suspended, I will transfer them
to the employees' accounts," he promised.
Mr Rebets added the reforms apply to only 1,253 people in the company,
which he said makes up about 28% of the whole staff.
http://www.tert.am/en/news/2014/02/12/rebec/