A Pension reform was initiated by the Government of Georgia and
entered into force on January 1, 2019. This scheme consists of the
activation of a so-called "funded pension", to which
everyone will make a minor contribution - the employee, the
employer and the state treasury.
Participation in the new scheme contributions is mandatory and
is imposed on employers, resident persons, citizens of Georgia,
foreign citizens and stateless persons permanently living in
Georgia. Those who have already reached 40 years of age by 6 Aug
2018 (when the new law was initially announced) will have the
option to withdraw contributions from the pension scheme between 1
April and 31 May 2019 and receive back the contributions for
preceding months.
