State Pensions

The new law on State Pension(Law of Georgia On Compulsory Life and Health Insurance and Pension of Member of Parliament ,2006 )introduced a new retirement age that previously was 60 for women and 70 for men and now has changed to 65 for both women and men.

Presently the minimum monthly pension equals to 38 GEL which is equivalent to 22 USD.

Only the residents of Tbilisi received new increased pension that was based on the longevity of their service. The following pension rates apply to residents of Tbilis based on their State service.
* Those who have length of service up to 5 years - extra 2 GEL (1.16 USD)
* From 5 to 15 years - 4 GEL (2.32 USD)
* From 15 to 25 years - 7 GEL (4.06 USD)
* From 25 and upwards - 10 GEL per month (5.8 USD)
Other than the minimum pension amount the law specifies different categories of people, such as veterans of war, invalids, politically repressed people, etc. that receive different amount as a monthly pension that varies from 40 GEL (23.25 USD) to 84 GEL (48.8 USD) maximum.
(oxfam.ge)
For additional information call the hotline of the Ministry of Labour, Health and Social Affairs: 94 49 or 94 34 98.
Voluntary Retirement Insurance

Several companies in Georgia provide voluntary retirement insurance. Each of them has its own terms and conditions.

• Personal payments (on the basis of individual contract)
• Payments by the employer (on the basis of mutual contract)
• Combination of the above two
Generally one year in advance of reaching pension age, insurance companies offer customers to avail of their pension in the following way

• Short-term pension – 5-10 years
• Long-term pension – lifetime