29.Nov .2021 13:30

Our Earnings Exceed Inflation – Pension Agency

Our Earnings Exceed Inflation – Pension Agency
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Giorgi Danelia, chairman of Pension Agency declares, that earnings on pension savings exceed inflation.

“To estimate the return on our investment from the day of Pension Agency creation up to date, it is about 30%. Compared to the inflation of this period, the benefits we have received are about 5-6% higher than the total inflation of this period”, Danelia said.

According to him, high inflation is a big challenge for the country in general, but they expect a reduction:

"In general, high inflation is a big challenge for the economy. Naturally, it's a challenge for the savings as well, but we expect inflation to start declining, and in the long run, our returns will be higher than inflation."

Annual inflation rose to 12.8% in October. The November inflation rate will be published by Geostat in a few days.

Today, the members of the Investment Council of the Pension Agency met with the representatives of the Georgian Business Association. Prior to the meeting, the director of the Pension Agency said that companies should talk about investment opportunities.

"As you know, after signing the agreement with the specialized depository of the Pension Agency, it is possible to diversify the portfolio using various tools. These are the opportunities we want to talk about to Georgian companies," Danelia said.