The pension Agency of Georgia made the first investment of 200 million dollars
The pension Agency of Georgia made the first investment of pension savings in the amount of 560 million lari (more than $ 200 million), investing in Deposit certificates of commercial banks of Georgia with a high rating, according to the Pension Agency's website.
To date, more than 976.1 thousand people and more than 62.1 thousand companies have been included in the pension scheme in Georgia, and total pension contributions have exceeded 565.4 million lari (more than $ 203 million).
The state will invest this money in various projects under the control of the National Bank. The process is carried out by The investment service of the pension Agency.
According to the Agency, the money was invested with a high interest rate, and the annual rate is 14.9% instead of 9%. The investment period is 5 years. After this period, this investment will almost double, which will bring significant benefits to all participants in the pension scheme.
The President of the National Bank of Georgia, Koba Gvenetadze, also considers it profitable to invest pension savings in Deposit certificates of commercial banks.
"I think that all the actions that have been taken are within the framework of the current legislation, and the interest rate is quite good and will be good for the successful implementation of this reform in the future," Gvenetadze said on Pirveli TV.
Pension reform
The funded pension system has been operating in Georgia since January 1, 2019. As designed, with nominal annual income of less than 24 thousand lari (8.6 thousand dollars) in her pension account will be credited with 6% of the amount of his wages: 2% it will pay myself 2% of his employer and 2 per cent by the state. With an annual salary of 24 thousand to 60 thousand lari (more than 21.5 thousand dollars), the state will transfer only 1%.
The accumulated money will be returned to pensioners with interest-an average of 7% per annum. At the moment, about 17.3 million lari (more than six million dollars) has already been credited to the accounts of pensioners.
The new pension system is partially mandatory – it is only valid for those who are under 40 years of age, the rest have the right to refuse monthly contributions. At the end of June 2019, the number of people who left the funded pension scheme was about 10% of the total number registered.
The Pension Fund States that the reform has two goals: improving the financial security of citizens at retirement age, as well as the development of the local capital market.
newsgeorgia.ge
Tags:
The pension Agency of Georgia made the first investment of 200 million dollars
The pension Agency of Georgia made the first investment of pension savings in the amount of 560 million lari (more than $ 200 million), investing in Deposit certificates of commercial banks of Georgia with a high rating, according to the Pension Agency's website.
To date, more than 976.1 thousand people and more than 62.1 thousand companies have been included in the pension scheme in Georgia, and total pension contributions have exceeded 565.4 million lari (more than $ 203 million).
The state will invest this money in various projects under the control of the National Bank. The process is carried out by The investment service of the pension Agency.
According to the Agency, the money was invested with a high interest rate, and the annual rate is 14.9% instead of 9%. The investment period is 5 years. After this period, this investment will almost double, which will bring significant benefits to all participants in the pension scheme.
The President of the National Bank of Georgia, Koba Gvenetadze, also considers it profitable to invest pension savings in Deposit certificates of commercial banks.
"I think that all the actions that have been taken are within the framework of the current legislation, and the interest rate is quite good and will be good for the successful implementation of this reform in the future," Gvenetadze said on Pirveli TV.
Pension reform
The funded pension system has been operating in Georgia since January 1, 2019. As designed, with nominal annual income of less than 24 thousand lari (8.6 thousand dollars) in her pension account will be credited with 6% of the amount of his wages: 2% it will pay myself 2% of his employer and 2 per cent by the state. With an annual salary of 24 thousand to 60 thousand lari (more than 21.5 thousand dollars), the state will transfer only 1%.
The accumulated money will be returned to pensioners with interest-an average of 7% per annum. At the moment, about 17.3 million lari (more than six million dollars) has already been credited to the accounts of pensioners.
The new pension system is partially mandatory – it is only valid for those who are under 40 years of age, the rest have the right to refuse monthly contributions. At the end of June 2019, the number of people who left the funded pension scheme was about 10% of the total number registered.
The Pension Fund States that the reform has two goals: improving the financial security of citizens at retirement age, as well as the development of the local capital market.
newsgeorgia.ge
Tags:
