The pension to increase from January 1, 2021

The draft budget for 2021, which has already been submitted to the Parliament of Georgia, envisages an increase in pensions from January 1 next year.

In total, 2.6 million GEL (increased by 370 million GEL) is directed to the pension provision, which is caused by the introduction of the rule of indexation of state pension growth.

"According to the draft law, starting from January 1, 2021, the pension for pensioners under 70 years of age will be increased by 20 GEL and the pension will be set at 240 GEL, and for pensioners aged 70 or over the pension will be increased by 25 GEL and will be set at 275 GEL", - reads the statement of the Ministry of Finance.