MPs Approve Amendments to Law on Pensions
On December 9 the Georgian Parliament approved amendments to the law on pensions in its first hearing with a 137 to 6 vote.
The draft law envisages increasing the minimal pension from the current GEL 28 (USD 15.5) to 38 (USD 21) and a decrease of the maximum pension from the current GEL 5000 [approximately USD 2700] to 560 (USD 311) starting from next year. The maximum pensions are reserved for former high-ranking officials.
Kakha Kukava of the opposition Democratic Front says that a compromise has been reached regarding the retirement age for women, which will not increase and remain at the current 60. Currently the retirement age for men is 70, which will be reduced to 65.
?Moreover, those who work during their pension age will simultaneously receive pensions – that is a positive move,? Kakha Kukava told Civil Georgia on December 10.
The opposition is also demanding the introduction of a pension system based on length of service, but the authorities rejected the proposal, citing that the budget is currently unable to fund this kind of pension system.
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