Tag Archives: Pension

Pension Agency of Georgia has announced an international competition for selecting 5 members of the investment board. The selected members will determine the agency investment policy for 5 years. According to the competition terms, the annual salary of the board members will be about 60 000 USD and the Government …

There were times, when the same pension amounts were paid in all republics of the Soviet Union. What has changed in 30 years? How much pension is paid today? What is the retirement age in Post-Soviet space? Starting 1956, in Russia the retirement age for men was 60 years old …

The pension system reform will be enforced in Georgia starting 2019. Employers, employees and the Government will pay equal deposits to the Pension Fund simultaneously. Namely, employees will pay 2% of the salaries to the Pension Fund. Employers and the Government will also pay 2% each to the employee’s pension …

According to the primary project of the budget presented to the Parliament by the Ministry of Finance, the budget of the Ministry of Health will be 3.863 billion GEL, which is more than 200 million than 2018. 3.8 billion GEL is a record amount, which any Ministry of Georgia has …

Galt & Taggart has developed a Government Pension Fund calculator. The calculator is based on a new pensions savings scheme of the government and allows defining the estimated pension. Specifically, any interested individual using the calculator can identify the savings amount over the specific period. The calculator is given on …

Employees will be fined for violation of obligations of accumulated pension system. The penalty sanction envisages a fine of 500 GEL for the first time, in the case of repeating the fine will be determined by 1000 GEL. This is envisaged by the draft bill submitted to the Parliament. The …

By order of Governing 4 Growth (G4G), project by US Agency for International Development (USAID), ISET has conducted a regulatory impact assessment (RIA) for pensions system reformation. The mentioned information was confirmed by G4G and ISET. In response to the question, why the mentioned document is not divulged, G4G representatives …

Government of Georgia plans to launch contributory pension reforms in the second half of 2018. The scheme of the reform is as follows – all citizens will be involved in the pension scheme, who take salaries under signed labor contracts. The system comprises partly  obligatory component. Citizens over 40 years …

Georgia  to Launch Pension System reformation in 3Q18. Government of Georgia plans to launch contributory pension reform implementation in the third quarter of 2018. Ministry of Economy has already published the corresponding bill. If the system comes into force, the special pension fund will manage the mobilized funds, accrue interest …

Life Goes on” is Georgian Dream’s promise to the pensioners. The coalition will hold presentation of the program in the coming days and it envisages pensioners employment and tax benefits for the companies that employ pensioners. “This does not imply raise of social benefits of any pension. This is extra …

Starting from from October 1, 2017, a private retirement savings system will be launched in Georgia as part of a broader pension reform. This reform has been discussed by Nino Doghonadze and Yaroslava Babych in Decent Income in Old Age: Georgian Dream or Reality? on the ISET Economist. Today we will …

Pension saving system in Georgia will be enacted from October 1, 2017. It has become clear on public discussion “Pension Reform in Georgia”, held on Tuesday. The discussion was attended by World Bank, representatives of NEST, the British Regulatory Body for the Pension System and Deputy Prime Minister Dmitry Kumsishvili. …