Economy
Posted: 2 months ago

Government Set Rule for Indexing Pensions

The government has set a rule for indexing pensions.

According to the Minister of Finance, based on the defined scheme, the indexation of old-age pensions will start from 2021.

"Pensions for retirees under the age of 70 should be increased with a minimum of inflation, and over the age of 70, pensions will be increased by 80% for inflation and economic growth. The lower limit is also in the absolute picture, pensions will be increased by at least 20 GEL for people under the age of 70 and at least 25 GEL over the age of 70, guaranteed every year, ”the finance minister said.

According to the minister, the increase in the announced pension at the beginning of the year is already 20 GEL. From July 1, it will also come into force to increase pensions by 30 GEL for people over 70, despite the fact that the budget today has big challenges.