Baku, Azerbaijan, July 9
By Tamilla Mammadova - Trend:
The Georgian Pension Agency can start investing in the country's energy sector, stated Executive Director of the Georgian Pension Agency Levan Surguladze, Trend reports with reference to commersant.ge.
According to him, in addition to energy, a pension agency's investments may be attractive for the telecommunications, logistics and banking sectors.
“In my opinion, the creation of a diversified investment portfolio has a great impact on income and provides low risk,” said Surguladze.
An investment council comprising five people will develop a document to be used by the Pension Agency in the investment process. According to the data, pension contributions in the Georgian pension agency in the amount of 831,000 lari are protected by 233 million lari.
Starting from 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, enrollment in the program is voluntary.
($1 = 2,83 GEL on July 9)