A civic initiative has been launched to halt the proposed Mandatory Funded Pension System in Armenia due to start as of January 1, 2014.

Those born in 1974 and after will pay anywhere from 6.6 to 13% of their wages into the investment fund that will be managed by a committee supervised by the Central Banks. Upon reaching the age of 63, individuals will then receive monthly pension payments similar to the social security system in the United States.

Thos opposing the new pension system say they will march on the National Assembly tomorrow at noon where a special parliamentary session is set to debate whether or not to postpone the launch of the system.