BAKU, Azerbaijan, May 6
By Tamilla Mammadova – Trend:
The volume of pension assets reached 1.42 billion lari ($414.1 million) in Georgia as of May 5, 2021, of which the accrued benefit is 148.8 million lari ($43.3 million), Trend reports via the Pension Agency.
Currently, the pension fund accumulates pension savings of 1.14 million citizens. At the same time, the number of participants in the pension scheme is increasing by more than 11,000 citizens every month.
Since 2020, the process of investing in the pension savings of citizens has begun. These assets are currently fully denominated in local currency.
In particular, 62 percent of 1.42 billion lari were invested in certificates of deposit issued by Georgian commercial banks, and 38 percent were placed in time deposits of Georgian banks. At the same time, according to the Pension Agency, about 800 people have already taken advantage of the funded pension.
As of December 31, 2020, the volume of the pension fund was 1.178 billion lari ($357.6 million).
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