Parliament approves Law on Accumulation Pension

19:34, 21.07.2018

The parliament approved Law on Accumulation Pension with associated legislative changes with the third hearing today. Ekaterine Mikabadze, Deputy Minister of Economy and Sustainable Development presented the draft-bill to lawmakers.

According to Ministry of Economy, Accumulation Pension is the part of pension reform that will allow citizens to have savings proportional to a salary of an employed person.

Mikabadze explained that Accumulation Pension, in long-term perspective together with social pension, will increase pension replacement coefficient by 50%.

Economics

Accumulation Pension

Ekaterine Mikabadze