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Pension accumulation system to become activated starting July 1, 2018

Publish Time 2017-10-31 15:06:00

The pension accumulation system will become activated starting July 1, 2018 in Georgia, if the parliament approves the draft-bill worked out by representatives of the National Bank of Georgia (NBG) and government. 

Reportedly, involvement of all employed persons under 40 in the system will be obligatory. It will be voluntary for everyone else. 

Every person will transfer 2% of salary to the pension fund, employers and government will transfer 2% each. Pension Agency will manage the amount in the fund. 



 



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