Amendments to Pension Savings Inheritance

On July 26, 2018 the Parliament of Georgia adopted amendments to the Pension Savings at the third reading.  

According to the new regulations, the rights to the pension savings will be transferred to a legal heir after the death of the pension holder. Each individual will have access to information about the current situation on their individual account.

In addition, the Ministry of Economy reports that the pension agencies investment activities are regulated by the National Bank and the Supervisory Board which observes the Pension Agency’s activities. The Agency explains that there is an insurance guarantee, a diversification of investment instruments which is ensured by law.

By Mariam Kukhilava