Pensioners in Georgia. Photo: Nodar Tskvirashvili, RFE/RL

03 January 2019, 11:05

Residents of Georgia are obliged to get registered in new pension system

An electronic system of administering pension contributions has been launched on the website of the Pension Agency of Georgia. Registration therein is mandatory for all employed citizens, as well as for employers.

The website of the Pension Agency of Georgia has launched a new electronic system for administering pension contributions, the "Sputnik-Georgia" reported on January 2, explaining that since January 1, every working citizen of Georgia must collect his/her pension for old age, since the country has launched the funded (accumulation) pension system.

According to the proposed scheme, every working citizen of the country or a foreigner permanently living in its territory must transfer two percent of his/her salary into the system. The same amount to his/her account is deposited by the employer. Besides, the state adds some money to the account. If the nominal annual income of the recipient is less than 24,000 laris (about 9000 US dollars), then, the state adds two percent; and if it exceeds this amount, but does not exceed 60,000 laris (about 22,500 US dollars), then, the state adds one percent.

An employed citizen, who is 40 years old as of August 6, 2018, may quit the pension scheme from April 1 to May 31, 2019. In this case, all the pension contributions already made will be returned back to him, the employer and the state, the "News-Georgia" reports.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on January 3, 2019 at 07:15 am MSK. To access the full text of the article, click here.

Author: Galina Gotua Source: CK correspondent

All news
НАСТОЯЩИЙ МАТЕРИАЛ (ИНФОРМАЦИЯ) ПРОИЗВЕДЕН И РАСПРОСТРАНЕН ИНОСТРАННЫМ АГЕНТОМ ООО “МЕМО”, ЛИБО КАСАЕТСЯ ДЕЯТЕЛЬНОСТИ ИНОСТРАННОГО АГЕНТА ООО “МЕМО”.

March 27, 2024 16:51

March 27, 2024 14:49

March 26, 2024 23:13

  • Analysts dispute on risks of IS'* intensifying in Northern Caucasus

    After the terror act at the Crocus City Hall, in Northern Caucasus, there is a risk of intensification of militants of the IS*, although no terror acts on civilians have not been observed there since 2018. This was noted by Sergey Goncharov, a veteran of special services, and Andrei Koshkin, a military expert.

March 26, 2024 20:26

March 26, 2024 19:40

News archive