What will happen to the accumulated pension in Georgia: the head of the Agency gives explanations

2019/10/65440-1571129328.jpg
Read: 911     14:00     15 Октябрь 2019    

Pension savings, in addition to placement on Bank deposits, will be invested in securities, said the head of the pension Agency

Pension savings of citizens of Georgia will be on foreign deposits of Georgian commercial banks, said the Director of the Pension Agency of Georgia Levan Surguladze on the air of the First channel.

The funded pension system has been operating in Georgia since January 1. According to the developed scheme, with a nominal annual income of less than 24 thousand lari (about 9 thousand dollars), 6% of the amount of his salary will be transferred to the pension account of a citizen - 2% he will pay himself, 2% - his employer and 2% more by the state. In the case of an annual salary from 24 thousand to 60 thousand lari (about 23 thousand dollars), the state will transfer only 1%.

"Intensive work is being carried out with various banks on current banking agreements. We have to go through this and finally agree with the banks the details, as soon as the work on the contracts is completed, the amounts will be immediately placed and in this case the profit on the Deposit will be within 11-12%, more than is credited now. At the moment, up to 9 million lari (about $ 3 million) have already been received, and about 260 million lari (more than $ 87.5 million) have been placed on long-term Bank deposits, " Surguladze said.

At the same time, he noted that after placement on deposits, pension savings will also be invested in securities, while he noted that it is specifically about bonds.

According to Surguladze, the investment Council of the Agency is considering the possibility of placing money on international markets.

The new pension system is partially mandatory - the funded pension is mandatory only for those under 40. The others have a choice.In June, the number of people who left the funded pension scheme is about 10% of the total number registered.

The pension Fund says that the reform has two major goals. One of them is long-term and involves the financial provision of citizens in retirement age, so that they have the opportunity to live a decent life. The second is the development of the local capital market.

sputnik-georgia.ru





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What will happen to the accumulated pension in Georgia: the head of the Agency gives explanations

2019/10/65440-1571129328.jpg
Read: 912     14:00     15 Октябрь 2019    

Pension savings, in addition to placement on Bank deposits, will be invested in securities, said the head of the pension Agency

Pension savings of citizens of Georgia will be on foreign deposits of Georgian commercial banks, said the Director of the Pension Agency of Georgia Levan Surguladze on the air of the First channel.

The funded pension system has been operating in Georgia since January 1. According to the developed scheme, with a nominal annual income of less than 24 thousand lari (about 9 thousand dollars), 6% of the amount of his salary will be transferred to the pension account of a citizen - 2% he will pay himself, 2% - his employer and 2% more by the state. In the case of an annual salary from 24 thousand to 60 thousand lari (about 23 thousand dollars), the state will transfer only 1%.

"Intensive work is being carried out with various banks on current banking agreements. We have to go through this and finally agree with the banks the details, as soon as the work on the contracts is completed, the amounts will be immediately placed and in this case the profit on the Deposit will be within 11-12%, more than is credited now. At the moment, up to 9 million lari (about $ 3 million) have already been received, and about 260 million lari (more than $ 87.5 million) have been placed on long-term Bank deposits, " Surguladze said.

At the same time, he noted that after placement on deposits, pension savings will also be invested in securities, while he noted that it is specifically about bonds.

According to Surguladze, the investment Council of the Agency is considering the possibility of placing money on international markets.

The new pension system is partially mandatory - the funded pension is mandatory only for those under 40. The others have a choice.In June, the number of people who left the funded pension scheme is about 10% of the total number registered.

The pension Fund says that the reform has two major goals. One of them is long-term and involves the financial provision of citizens in retirement age, so that they have the opportunity to live a decent life. The second is the development of the local capital market.

sputnik-georgia.ru





Tags: