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Minimum Pension in Georgia Increased up to GEL100

Published: September 4, 2011 | 12:21 pm
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The COMMERCIAL TIMES

Minimum pension in Georgia has become GEL100 from September, 2011. The social assistance funds, which the pensioners were taking so far, will be added to the basic limit of the pension.

The government team had been working on the pension reform for past few months, since the president announced the initiative at the meeting with pensioners. The economic team of the government then was instructed to mobilize resources within the state budget for pension growth.

According to official data there are around 661 000 age pensioners in Georgia. However, the in the early years of his presidency, Saakashvili promised to the population that minimum pension would reach USD 100. Prime Minister Nika Gilauri recently gave verbal guarantees to do so.

President summed up the implemented reform with ministers on September 2. Georgian President met with Prime Minister Nika Gilauri, Minister of Health, Labour and Social Affairs Andria Urushadze and Finance Minister Dimitry Gvindadze to discuss the pension reform.

President Saakashvili said that at present, the government must focus on the care of socially vulnerable population.

“Previously, there were different pension rates in Tbilisi and regions, but now they are equalized as prices increased in the regions,” Saakashvili said. “It will be fair if we use the income obtained from taxes to increase pensions as our country does not extract oil and gas.”

The amount of pension has increased by 7 times since 2004. All debts, existing before the indicated period, have been covered.

 

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