Pension assets in Georgia: how are things going

The latest statistics provided by the Pension Agency of Georgia indicate a significant increase in the value of pension assets in the country. As of October 31 of this year, the total amount reached GEL 4 billion ($1.5 million).

More than 1.5 million people participate in the funded pension system, which has been mandatory since the beginning of 2019. According to the latest reports, 6.1 thousand people received payments totaling 17.5 million lari (6.5 million dollars).

It is important to emphasize that the profit from investment activities, amounting to 708 million lari ($263.2 million), additionally supports the financial stability of the system.

According to the current scheme, 6% of the amount of his salary is transferred to the pension account of a citizen with an annual income of less than 24 thousand lari (8,9 thousand dollars). It is interesting to note that the first investment in the amount of GEL 560 million ($208.2 million) was made in March 2020 in certificates of deposit of commercial banks of Georgia.

These new facts highlight the dynamic growth of pension assets in the country and the positive impact of the system on the financial well-being of its participants.