Opinion: Government is unable to effectively operate funded pension system (video)
The system of accumulative pension funds cannot be effective, says David Khajakyan, a member of “Dem am!” (I am against) pressure group campaigning against the introduction of a new controversial pension system in the country. People, who wrote applications asking the relevant agencies to return their money, have not been paid yet. “Now, we are collecting all facts to show the court that the government is unable to effectively operate this system,” David Khajakyan said to A1+. On July 7, the Constitutional Court will hear the appeal disputing the constitutionality of certain provisions of the Law on Funded Pensions. Some schools and universities have already returned the money, but employees of private companies are still waiting for the money. All citizens who had made compulsory pension contributions and filed an application by December 25, 2014, asking to return the money, were to receive the accumulated contributions by July 1.
