“The law does not create a possibility for people to terminate pension accumulation agreements for important reasons and this violates the Constitution. This limits the pension fund participant’s rights to ownership,” the Constitutional Court stated.
Article 23 of the Constitution stipulates that property is inviolable and the rights of ownership are protected by law.
Earlier, 39 opposition MPs asked the Constitutional Court to examine the law on pension accumulation. They raised concern that it is impossible to withdraw from pension accumulation.
Minister of Social Security and Labour Monika Navickienė promised after the ruling that conditions would be created for people to terminate pension accumulation contracts before they reach retirement age and that it would be possible to withdraw the accumulated funds.
She does not rule out that legislative changes might be considered already in the spring session that starts 10 March.
