Pensions increase to 250 GEL for people above 70 in Georgia starting 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.

As for pensioners above 70 living in the highland areas, their pensions have increased to 300 GEL starting today.

Moreover, pensions for individuals with category I disabilities and children with disabilities will increase by 30 GEL to 250 GEL starting today as well.

Back in April, Georgian Finance Minister Ivane Matchavariani said that Georgia intends to begin indexing pensions to inflation and economic growth.

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,” said Matchavariani.

Meanwhile, Matchavariani noted that pensions of people less than 70 years old will increase by minimum 20 GEL in a year, while for people above 70 years it will increase by a minimum of 25 GEL.

Georgia already increased pensions for all pensioners by 20 GEL on January 1, 2020. As for retirees (women above 60 and men above 65) living in highland villages, they began receiving an additional 20 per cent on their monthly state pension in 2016. Their pensions were increased to 264 GEL from 220 GEL on January 1.