Accrued pension benefits amount to 140 MLN GEL

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12.Apr .2021 13:30

Accrued pension benefits amount to 140 MLN GEL

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Author:Natia Taktakishvili

As of April 12, 2021, the volume of pension assets amounted to GEL 1.37 billion, of which accrued pension benefits amounted to GEL 140 million.

Pension assets are placed in Georgian commercial banks and the effective annual interest rate totals to 10.7%.

65% of pension assets are placed in certificates of deposit (CD) and term deposits, while 35% - on current accounts.

To date, 765 people have benefited from the accumulative pension. Among them: on the basis of reaching retirement age – 323 participants, on the basis of moving abroad for permanent residence - 1, on the basis of the status of a person with disabilities -321, and 120 persons exercised the right of an heir.

The total number of registered citizens for the Pension Fund totals to 1,137,380, the number of private organizations is 74,646. The number of people involved in the pension scheme is growing daily and has averaged more than 11,000 per month.

Pension Fund