As Georgia struggles to overcome various social and economic problems, pensions remain among the country’s central issues.
For many years, Georgia’s pension system had comprised only a state pension based on a solidarity principle. However, the state pension had not been sufficient to allow retired persons to maintain acceptable living standards. Therefore, pension system reform was a topic of hot discussion for a long time in Georgia and pertinently, in 2018, a funded pension scheme was integrated into the pension system.
The following bulletin will review the key changes that have taken place in the pension system over the last five years.