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From January 2022, the pension will increase by 20-25 GEL

04.10.21 12:40


According to the draft budget for 2022, from January 2022, the pension for people under 70 will increase by 20 GEL, and for pensioners over 70 by 25 GEL.

 

According to the Law on State Pension, the pension of persons under 70 should be increased by the average inflation rate of the last 12 months, but not less than 20 GEL. According to data released by the National Statistics Office in September, the average inflation for the last 12 months was 6.4%. Considering that the increase of the pension under this indicator is less than the minimum 20 GEL defined by the law, according to the law, the pension will increase from 20 GEL to 260 GEL from January.


Under the same law, pensions for people aged 70 and over must be increased by an average of 80% of the arithmetic mean of the real GDP growth rate of the last 12 months and the last 6 quarters .

 

Considering that the increase of the pension according to the relevant formula is less than the minimum 25 GEL defined by law, in this case, too, according to the law, the pension will increase by 25 GEL to 300 GEL. In total, 2, 885 billion GEL was written in the budget for pension provision.

 

 

source: 1TV

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