EPI Report: Pension Development in Georgia

The goal of this assignment is to make a comprehensive analysis of demographic and macroeconomic data that are essential for pension development, and to perform estimations and projections in order to define potential sources of accumulated savings.

The study has been performed to overview the current public pension system and to make some assumptions and analysis with regard to the existing pension system and also potential supplementary pension systems, particularly, World Bank Pillar II, i.e., mandatory pension savings and World Bank Pillar III — voluntary pension systems. Some attempts were carried out to presuppose the development of the mandatory and voluntary pension systems by producing and composing mandatory pension savings and voluntary pension scenarios.

The initial tasks involve gathering, organizing and analyzing demographic and economic data and indicators from the National Statistics Office of Georgia (Geostat), National Bank of Georgia (NBG) and Social Service Agency (SSA). Based on these statistical data, we made our estimations and projections.