The Georgian government presented an initiative to the Parliament on a different method for the pension calculation.
The bill is on today's agenda for discussion at the meeting of the Bureau of Parliament.
"The new indexation mode means a higher pension growth index for people over 70, as people of this age are more vulnerable to the loss of income,'' the bill reads.
Following the bill, pensions for people under 70 years old will increase per inflation, by minimum 20 GEL per annum.
Pensioners over 70 will receive an annually increased pension.
The pension will additionally grow following 80% of real economic growth.
The pension will increase annually by at least 20 GEL per year for people under 70 and minimum 25 GEL per year for pensioners 70 and older, "the bill says.
As of April 2020, there are 770,000 pensioners in Georgia with 200 GEL pension. Those living in Georgia's highlands receive 20% more.
Pension will increase by 30 GEL for those elder than 70 starting on July 1, 2020.
Bela Gelashvili
News Author