Georgia’s Pension Agency obtains ISO certificate for managing information security
The Pension Agency of Georgia on Thursday said it had successfully obtained the ISO 27001 certificate. Photo: Pension Agency
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The Pension Agency of Georgia on Thursday said it had successfully obtained the ISO 27001 certificate, which confirms the organisation had been audited and their “effective” information security management system has been confirmed to be in accordance with the requirements of international standards.
The certificate confirms risk control, which includes the management of information security at its disposal, measures related to ensuring the confidentiality, integrity and availability of existing information about the participants are carried out in the Pension Agency in accordance with the universally recognised international standard”, the organisation said.
The Agency said it had started implementing and certifying the system in 2020, and pledged to continue improving the information security management system in accordance with the “best international standard”.
The Pension Agency of Georgia has estimated the net asset value of the country’s pension fund at ₾2.97 billion ($1.1 bln).
Natia Turnava, the Acting President of the National Bank of Georgia, on Wednesday met the members of the Investment Council of the country's Pension Agency to review revisions in the legislation on cumulative pension and investment plans.
Georgian Prime Minister Irakli Garibashvili said pensions for pensioners aged 70 years and older would increase by ₾50 ($18.62) and become ₾415 ($154.58), while for pensioners under 70 it would be raised by ₾20 ($7.45) and reach ₾315 ($117.33).
Georgia’s Pension Agency will invest savings from the pension system in shares of major international companies including Apple, Google and Toyota, Chief Investment Officer Goga Melikidze revealed on Friday.
The Pension Agency of Georgia on Monday said assets in its fund were worth ₾4.027 billion ($1.49bln), while net assets amounted to 708 million ($262.73mln).
Advertising of loans secured by pensions is now banned in Georgia without individual consent of pensioners, the National Bank announced on Wednesday.
More than 150,000 pensioners will see a reduction in their loan interest rates, following a decision reached during a meeting on Thursday between Georgian Prime Minister Irakli Kobakhidze, Natia Turnava, the Acting Governor of the National Bank of Georgia and the Chief Executive Officer of the Liberty Bank Beka Gogichaishvili.