Pension increases to 250 GEL for people above 70 in Georgia starting July 1
In addition, retirees living in highland villages of Georgia will receive higher pensions that will total 300 GEL. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
People above 70 years will receive an increased pension starting July 1, 2020, with monthly pensions increasing by 30 GEL ($9.84/€8.63) to 250 GEL ($81.97/€71.95).
In addition, retirees living in highland villages of Georgia will receive higher pensions that will total 300 GEL ($98.36/€86.34).
Georgian Prime Minister Giorgi Gakharia said at today's government meeting that the status of a highland settlement was granted to an additional 58 villages this year and in total 1,800 settlements enjoy state benefits.
Gakharia also said that increasing the pension by 30 GEL is not enough and 'we must improve the condition of our retirees every year'.
He said that it is very important that Georgia begins indexing pensions to inflation and economic growth, meaning that an increase in pensions for people less than 70 years old will be adjusted based on the inflation rate, while an increase of pensions for people above 70 will be adjusted based on 80 per cent of economic growth as well as the inflation rate.
Pensions of people less than 70 years old will increase by a minimum 20 GEL ($6.56/€5.76) in a year, while for people above 70 years it will increase by a minimum of 25 GEL ($8.20/€7.20).
Georgia already increased pensions of all pensioners by 20 GEL on January 1, 2020.
The European Georgia opposition party has urged the government to suspend mandatory pension contributions for eight months due to the situation created by Covid-19 virus.
Pension and social packages have increased starting from today. 114,000 people with disabilities and pensioners will receive the increased social package by 20 GEL [$6.18].
Georgian Prime Minister Giorgi Gakharia has presented the anti-crisis budget for 2020 at the Inter-Agency Coordination Council today in response to the before sending it to the Parliament of Georgia later today. "The reason and purpose of our meeting today is the anti-crisis budget for 2020. We all understand very well that the epidemic has pushed the country back economically. Today the budget will be presented to parliament and you are all here to discuss it and change our opinions", Gakharia said.
Georgia intends to begin indexing pensions to inflation and economic growth, says Georgian Finance Minister Ivane Matchavariani earlier today.
Georgian citizens above 70 years will receive an increased pension starting today with monthly pensions increasing by 30 GEL ($9.8/€8.8) to 250 GEL ($81.8/€72.9), announces the Ministry of Health, Labour and Social Affairs of Georgia.
Salaries of policemen, emergency first-aid personnel, village physicians, nurses, and social agents in Georgia have increased as of July 1, announces Prime Minister of Georgia Giorgi Gakharia.
Independent majoritarian candidate for Didube-Chugureti Ana Dolidze and pensioners have held a ‘corridor of shame’ rally in front of the National Bank of Georgia, protesting that about 400,000 pensioners out of the more than 750,000 in the country have what they say are very expensive loans taken out from Liberty Bank.
Pensions have increased in Georgia starting January 1, 2021, says the Ministry of Health, Labour and Social Affairs of Georgia.
Georgia is the cheapest retirement destination in Europe in 2021, followed by its neighbours Russia and Ukraine, says a new study published by a Chicago-based online lender NetCredit. NetCredit calculated that a retirement cost in Georgia totals $215,911 – 'just over one-third of the US price'.
People over 70 years of age will receive an increased pension starting January 1, 2022, with monthly pensions increasing by 20 GEL to 260 gel, while pensioners over 70 will receive an increased pension of 300 GEL, up 25 GEL.