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ARMENIAN CITIZENS EMPLOYED ABROAD TO GET MINIMUM PENSION ONLY - MINISTER OF LABOR
YEREVAN, June 20. /ARKA/. Armenian citizens who are employed abroad
and will not work in Armenia by the retirement age, will be entitled
to a minimum pension only, Armenian minister of labour and social
affairs Artem Asatryan said in the parliament.
The minister said any citizen of Armenia getting his first employment
in the country before the age of 40 will be included on the pension
scheme, but found it difficult to answer how pension will be paid
based on earnings in another country.
Asatryan said the government set a target to ensure a pension above
poverty level.
At its sitting on Tuesday the government approved the amendments to
the country's pension law and related bills required by the ruling
of the constitutional court, the government press office says.
The bill package rules out possible reductions in wages after the
pension system comes into force. The amendments proposed to enforce
the compulsory funded pension system in the public sector as from July
1 and to introduce the scheme in the private sector on a voluntary
basis within a three-year period.
The compulsory fees paid under the law as from January 1 2014, are
not relevant anymore. A social fee of 5% is to be paid to the budget
instead. A maximum of 25,000 in social fee is proposed for wages
above 500,000 drams.
On January 24, Armenia's Constitutional Court suspended some provisions
of the new, controversial law that aims to reform the country's pension
system to launch a detailed inquiry into the constitutionality of
the law.
The highest court of the country suspended Article 76 of the new
law, which provides for penalties for failed or delayed pension tax
payments, and the third paragraph of Article 86, which obligates
employed citizens to choose a pension fund, among other parts of
the law.
On April 2, the Constitutional Court of Armenia found some provisions
of the new pension law contradicting to the Constitution and voided
them instructing the government to make changes here.
The National Assembly passed amendments to the law suspending
enforcement of the compulsory component of the new pension scheme. It
means compulsory component was transformed into voluntary.--0---
- See more at:
http://arka.am/en/news/society/armenian_citizens_employed_abroad_to_get_minimum_p ension_only_minister_of_labor/#sthash.FkfKU2Eg.dpuf
YEREVAN, June 20. /ARKA/. Armenian citizens who are employed abroad
and will not work in Armenia by the retirement age, will be entitled
to a minimum pension only, Armenian minister of labour and social
affairs Artem Asatryan said in the parliament.
The minister said any citizen of Armenia getting his first employment
in the country before the age of 40 will be included on the pension
scheme, but found it difficult to answer how pension will be paid
based on earnings in another country.
Asatryan said the government set a target to ensure a pension above
poverty level.
At its sitting on Tuesday the government approved the amendments to
the country's pension law and related bills required by the ruling
of the constitutional court, the government press office says.
The bill package rules out possible reductions in wages after the
pension system comes into force. The amendments proposed to enforce
the compulsory funded pension system in the public sector as from July
1 and to introduce the scheme in the private sector on a voluntary
basis within a three-year period.
The compulsory fees paid under the law as from January 1 2014, are
not relevant anymore. A social fee of 5% is to be paid to the budget
instead. A maximum of 25,000 in social fee is proposed for wages
above 500,000 drams.
On January 24, Armenia's Constitutional Court suspended some provisions
of the new, controversial law that aims to reform the country's pension
system to launch a detailed inquiry into the constitutionality of
the law.
The highest court of the country suspended Article 76 of the new
law, which provides for penalties for failed or delayed pension tax
payments, and the third paragraph of Article 86, which obligates
employed citizens to choose a pension fund, among other parts of
the law.
On April 2, the Constitutional Court of Armenia found some provisions
of the new pension law contradicting to the Constitution and voided
them instructing the government to make changes here.
The National Assembly passed amendments to the law suspending
enforcement of the compulsory component of the new pension scheme. It
means compulsory component was transformed into voluntary.--0---
- See more at:
http://arka.am/en/news/society/armenian_citizens_employed_abroad_to_get_minimum_p ension_only_minister_of_labor/#sthash.FkfKU2Eg.dpuf