The Committee discussed the report of the LEPL Pension Agency for 2021.
The report includes details regarding the initiatives and policies put in place throughout 2021, as well as crucial statistical information for the accumulative pension plan, according to Giorgi Danelia, the agency's director.
The speaker discussed the statistics around enrollment in the cumulative pension plan. He claims that as of December 31, 2021, the pension plan had 1,235,962 members and 82,795 employees and employers.
"A total of 1,782,134,866.25 GEL was deposited to the pension fund. During the same time frame, the fund saw withdrawals of 66,483,394.86 GEL”, - the Director of the Agency stated.
The speaker discussed the changes to the electronic system, as a result of which users now have the opportunity to receive services electronically, remotely. According to him, the Agency had opened nominal ownership accounts in 10 commercial banks of Georgia, through which the Agency was collecting pension contributions.
"The reporting period's nominal interest rate ranged from 8% to 9.6%, and the total amount of interest accumulated during that time was 18,243,117.18 GEL”, - Giorgi Danelia remarked.
The procedure for leaving the cumulative pension plan was covered by the speaker. The overall amount of pension and pension assets issued during the reporting period, according to Giorgi Danelia, was 2,184,460.79 GEL, while the pension issued during 2021 totaled 1,559,077.35 GEL.
The report's author focused extensively on the Investment Service and Investment Council's activities. His information indicates that the total value of investment assets during the reporting period was 1,980,289,982 GEL. The speaker discussed the functions of the Risk Control division.
As Giorgi Danelia pointed out, the approved budget for 2021 was six million GEL, of which 43 percent came from the annual service fee for pension assets and 57 percent from the state budget. He claims that for the reporting period, the budget execution rate was 99 percent, with 13 percent of that amount going toward the purchase of non-financial assets and 87 percent going into funding agency operations.
