The Parliament considered the amendments to the law "On Accumulated Pension" in the third reading and adopted them with 75 votes.
According to the draft law, the name of the pension agency is changed to "Georgian Pension Fund".
According to the changes, instead of two unequal management rings in the pension agency, there will be one management body - "Governing Council".
Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili spoke about the changes to be implemented in the legislative package and general principles.
According to him, the changes envisage the improvement of the governance and supervisory framework.
As the speaker pointed out, the changes made by the draft law mainly serve to change the management system of the pension agency, as a result of which, instead of two unequal management links (investment and supervisory boards) in the pension agency, there will be one management body - "the management board", which will carry out the unified management of the cumulative pension scheme and perform as investment, as well as administrative/operational and other functions.
"According to the draft law, the powers of the Council have been determined. Changes are also included in the supervisory structure, regarding investment limits, etc.. The change also applies to the name of the agency.
The name of the pension agency is changed to "Georgian Pension Fund", - it is mentioned in the information distributed by the Parliament.
