Georgian Pension Agency’s net asset value at $1.49bln in October
To date, 6,139 people have benefited from the accumulative pension system, with the amount paid to them standing at ₾17,515,264 ($6,499,728). Photo: Nino Alavidze/Agenda.ge
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The Pension Agency of Georgia on Monday said assets in its fund were worth ₾4.027 billion ($1.49bln), while net assets amounted to 708 million ($262.73mln).
Publishing the latest figures for the fund as of October 31, the body said 1.45 million people had been registered in the pension scheme.
To date, 6,139 people have benefited from the accumulative pension system, with the amount paid to them standing at ₾17,515,264 ($6,499,728), the agency added.
The system came into effect in January 2019 and applies to Georgian citizens, foreign citizens living in Georgia with a permanent residency in the country, and stateless persons who are employed or self-employed and receive an income.
It also applies to employees of both the public and private sectors.
Georgian Prime Minister Irakli Garibashvili on Tuesday said his office would reveal a new decision about the regulation of the pension system for the country’s law enforcement and defence sector, pledging to ensure additional efforts for providing “decent working conditions” to employees in his comments for Veterans’ Day.
The Pension Agency of Georgia on Thursday said it had successfully obtained the ISO 27001 certificate, which confirms the organisation had been audited and their “effective” information security management system has been confirmed to be in accordance with the requirements of international standards.
Natia Turnava, the Acting President of the National Bank of Georgia, on Wednesday met the members of the Investment Council of the country's Pension Agency to review revisions in the legislation on cumulative pension and investment plans.
Georgian Prime Minister Irakli Garibashvili said pensions for pensioners aged 70 years and older would increase by ₾50 ($18.62) and become ₾415 ($154.58), while for pensioners under 70 it would be raised by ₾20 ($7.45) and reach ₾315 ($117.33).