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Pension accumulation system to become activated starting autumn, 2018

The pension accumulation system will presumably become activated autumn, 2018 in Georgia, if the parliament approves the draft-bill worked out by representatives of the National Bank of Georgia (NBG) and government. The parliament will have discussed the project by the end of this year. 

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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