Discussion of Pension Reform
Shavlego Tabatadze, State Representative-Governor of Imereti attended an informational meeting on accumulative pensions. The Pension Agency officials provided detailed information about the reforms to the representatives of local self-governments, non-governmental organizations and regional media and introduced the characteristics of the accumulative pension reform. The model implies pension accumulation from taxes paid by the population on the labor market and, thus, to improve the ratio of pension income to earned salary, and to ensure fiscal sustainability.
Accordingly, the pension will be determined according to the duration of employment, amount of salary and their net contribution to the pension fund. This reform will be launched in January, 2019.