ქართ | Eng

ISSN 2449-2396 (Print) | E ISSN 2449-2612 (Online)

JEL Classifications: G22, G28, H60, H61


https://doi.org/10.35945/gb.2020.09.011



PROS AND CONS OF PENSION REFORM- GEORGIAN CASE

Author: Zurab Mushkudiani, David Mamrikishvili, Irakli Gachechiladze | Published: 2020-08-21 | Pages: 91-95

Full Text

For Citation: Mushkudiani Z., Mamrikishvili D., Gachechiladze I. (2020). Prons and cons of pension reform- Georgian case. Globalization and Business, №9, pp. 91-95. https://doi.org/10.35945/gb.2020.09.011

Abstract

The paper studies pension reform in Georgia which has been going on since the 1990s, evolving over time and taking a modern look. The axiom is that the pension system in our country needed to be upgraded. The discussion on the current issue has been going on for a long time and the topic does not lose its relevance today. The establishment of a liberal economic environment can be considered as the basis for the accumulation of «accumulated pensions» in our country. Like all recent reforms, there are supporters and opponents of the reform, but unfortunately, for a number of reasons, the public expresses distrust and views the reform as a step backward. It is clear that pensioners› reliance on the basic state pension is a heavy burden for the country›s budget.


Keywords

PENSION REFORM, MONEY ACCUMULATION, STATE BUDGET


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