Georgia’s Pension Agency says fund’s net asset value at $1.42bln

The Pension Agency of Georgia on Friday said pension assets in its fund were worth ₾3.66 billion ($1.42bln), while net assets amounted to ₾631 million ($245mln).

Publishing the latest figures for the pension fund as of Friday, the body said 1.42 million people had been registered in the pension scheme as of June.

To date, 4,118 people have benefited from the accumulative pension system, with the amount paid to them standing at ₾11,684,674 ($4,538,164), the agency added. 

The system came into effect in Georgia in January 2019 and applies to Georgian citizens, foreign citizens living in Georgia with a permanent residency in the country, and stateless persons who are employed or self-employed and receive an income. 

It also applies to employees of both the public and private sectors.