Parliament's assessed work of Pension Agency positively
By Levan Abramishvili
Tuesday, December 3
As Levan Surguladze stated, despite the 6-month reporting time, it can be said that as of today, more than GEL 450 million has been mobilized in the Pension Fund and the accrued benefit is more than GEL 13 million.
According to him, as of the end of November, 939 130 people are involved in the pension scheme. Among them, 761 828 are employed in the private sector and 218 687 in the public sector. In addition, 60 134 private companies are involved in the scheme.
As Surguladze noted, the total pension contributions and accrued benefits are at GEL 491 613 901. The accrued interest at the end of the year is expected to reach GEL 17 million, according to the director.
A total of 163 403 people have left the pension scheme. Among them, 121 172 are employed in the private sector and 42 231 in the public sector.
“I would like to emphasize that both economic and social reforms of an unprecedented scale and importance are underway in Georgia,” said the director of the Agency regarding the pension reform. “Since this reform is based on a certain trust of the people, millions of people stand behind us, so it is very important that both the Parliament and the Government pay special attention to this issue and give further support to this reform,” Surguladze told the MPs.
Deputy Chair of the Parliament Giorgi Volski noted that it is natural that the reform is highly supported, but it’s important that the Agency popularize its aims and raise public awareness about its work.
Parliament then voted on the bills already discussed, including a review of the Pension Agency's six-month performance, which was positively assessed by the Parliament.
Adopted by the Parliament last year, the new scheme entered into force on January 1, 2019. The accumulated pension scheme is open to all employed or self-employed citizens of Georgia and foreign nationals residing permanently in Georgia.
Participation in the pension scheme is mandatory for all employed citizens of Georgia, and a foreign citizen is permanently residing in Georgia, who had not yet turned 40 as of August 6, 2018.
It has also been mandatory to join the scheme for the employees aged over 40, but they were allowed to leave the program in the timeframe of April 1 to June 1, 2019.
17 MPs have left the accumulated pension scheme. Two of them are the members of the parliamentary majority - Kakha Okriashvili and Teimuraz Kokhreidze.
Okriashvili is the owner of 95% shares of PSP Pharma. Kokhreidze has also come out of business into politics. Both of them voted in favor of the accumulated pension law on all three hearings.
15 opposition lawmakers, mainly members of the European Georgia party, have also quit the accumulated pension scheme, including Giorgi (Gigi) Tsereteli, Giga Bokeria, Khatuna Gogorishvili and others.