11.May .2020 18:48

165,713 individuals left the pension system in Georgia


165,713 individuals left the state pension system on their own will in Georgia. This is 4.4% of the country’s total population.

According to the legislation, individuals who have been already 40 years old, while enacting the reform, have the right to leave the system.

Participation in the project is obligatory for those citizens who are not 40 years old. Respectively, 6% of their monthly salary is transferred to the pension agency.

According to the Pension Agency, 278 individuals have completely left the fund through the introduction of the reform until March, 2020, which might be caused by their deaths, retirement or personal disability.

As of May 11, the volume of the pension fund amounts to 736 million GEL and 45-50 million GEL is transferred in the fund through a month totally.