Goga Melikidze, Chief Investment Officer of the Pension Agency declares, that with a salary of 500 GEL, the pension will be 800 GEL per month after saving for 30 years.
"According to current calculations, if a person is 30 years old and has a salary of 500 GEL now, the pension saving will reach 141,000 GEL at the retirement age, so the monthly pension will be around 800 GEL," said Goga Melikidze.
The real purchasing power of 800 GEL after 30 years will depend on the actual inflation rate.
What are the benefits of citizens' pension savings?
Currently, 1,145,808 citizens are engaged in the pension system. At present, the assets of the Pension Fund amount to 1.5 billion GEL, of which 150 million GEL is the interest accrued on citizens' pension savings.
According to the Pension Agency, most of the pension savings are invested in certificates of deposit issued by commercial banks and its effective annual interest rate is 11%.
