NEWS

New laws come into force on New Year

The accumulated pension system has come into play. Photo: N.Alavidze/Agenda.ge.

Agenda.ge, 02 Jan 2019 - 10:44, Tbilisi,Georgia

Several major legislative changes came into play on January 1, 2019.

One of the changes is the accumulated pension system.

The new programme 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, enrolment in the programme is voluntary.

The system will work on a 2+2+2 scheme. This means that employees will pay two per cent of their salaries towards their pension, while employers and the government will add another two per cent each.

On the same day, pensions increased by 20 GEL and amounted to 200 GEL monthly.

From January 1, 2019 all drivers are obliged to carry out technical inspections of their vehicles.

Mandatory vehicle inspections started in Georgia from January 1, 2018 and powerful engine vehicles (+ 3.5 tonnes) and passenger vehicles (+8 seats) were inspected during the first stage.

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