GEL 563 million Accumulated in Pension Fund in 2019

About 563.5 million GEL has been accumulated in the State Pension Fund since January 1, 2019, says the Georgian Pension Agency. 

The Agency reports that GEL 563,489,312 has been accumulated in the pension fund, while the accrued benefit is GEL 17,287,125.

The number of citizens registered in the pension fund is 959,548 and the number of organizations is 61,165.

Those employed in Georgia transfer money to the country’s pension savings system which was launched on January 1, 2019. The accumulated pension system is mandatory for legally employed people under 40, meaning they will be enrolled automatically. For the self-employed and those above the age of 40, enrolment in the program is voluntary.