LAW OF THE REPUBLIC OF ARMENIA

of May 26, 2014 No. ZR-13

About modification of the Law of the Republic of Armenia "About funded pensions"

Accepted by National Assembly of the Republic of Armenia on May 15, 2014

The purpose of this Law is introduction of amendments to the Law of the Republic of Armenia "About funded pensions", and also by means of separate adjustments to create the environment necessary for full fulfillment of requirements of the Resolution of the Constitutional court No. 1142-P of April 2, 2014, to ensure legal safety on protection of the rights of citizens and employers and the pension system before complete implementation of further reforming of the pension system according to the specified resolution.

Article 1. Article 76 of the Law of the Republic of Armenia as ZR-244 of December 22, 2010 "About funded pensions" (further – the Law) to recognize invalid.

Article 2. Person having obligation to calculate and make obligatory accumulative transfer, it is exempted from liability provided by the Law for failure to carry out or accomplishment with delay of obligatory accumulative transfer for the period before entry into force of this Law.

Article 3. The employer does not calculate and does not make accumulative transfers for (from name) the stipulated in Clause 5 Laws of the hired employees and participants gaining income under the agreement if the participant personally or post delivery did not submit to the employer the application. Data on not charge and not work of obligatory accumulative payments for (from name) the applicant, and also the following data are specified in the statement:

1) name of the employer, name and surname of the applicant, series and passport number, date and year of birth, number of public services or number of the certificate of absence of number of public services,

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