The size of the state pension in Georgia for 2024: Increase in payments and changes depending on age

The State budget of Georgia for 2024 has been approved with the final parameters of pension amounts. According to the new standards, the amount of the state pension in Georgia next year will be 315 lari for citizens under the age of 70 and 415 lari for those who have already turned 70 years old. In high-altitude settlements, pensions will also be adjusted, reaching 380 lari and 490 lari, respectively.

These changes reflect an increase in the size of state pensions for citizens, and the increase will depend on the age category. For persons under 70 years of age, an increase of 20 lari is provided, and for senior citizens – by 50 lari.

The country regulates the size of pensions through annual indexation, starting in 2021. It is important to note that participants in the funded pension system will receive additional funds depending on life expectancy and the total amount of savings.

These changes are designed to ensure a more equitable and adapted approach to pension payments depending on the age and place of residence of citizens.