Pensioners’ arithmetic

From September 1, 2012, pensioners aged 67 and up will receive a pension of about GEL 140. This would entail GEL 125 as cash and GEL 15 for insurance policy. Why September 1? It could be explained very easily, just one month from that date pensioners will have to vote in the parliament elections.

Political analysts, as well as the opposition, criticize the government because despite certain increases in pensions, the amount does not cover the existing minimum and it cannot secure the livelihood of old age people. During the previous pre-election campaigning, the president promised to increase pensions to up to USD $100 (about GEL 165) though he did not fulfill these promises. It should also be mentioned that compared with 2003, the amount of pensions increased about 7 times. However, inflation has also grown.