The society and banks created a pension calculator. daitvale.ge – represents a website, which helps you to create an idea about how much pension you may have considering the current wages.
To calculate pension, on the website - daitvale.ge you should change the amount of salary, periods of accumulation and disposal, annual interest rate and see how much pension you may receive.
The calculator provides 3% inflation and annual interest rate accruals. In the future, the pension contribution will be changed in case of increase/decrease of wages. The pension calculator will be finalized after the approval of the draft law. Keep in mind that the result is conditional and it may not reflect the exact final amount.
The draft law will be submitted in the end of the year and according to the plan, reform will be launched from the third quarter of 2018. Engagement in accumulation of pension reform will be mandatory for persons under the age of 40 and will be voluntary for those who have already completed 40 years before the implementation of the law. As for the self-employed, they will voluntarily join the system regardless of their age. According to the draft law on accumulated pensions, the monthly installment is as follows: 2% of the untaxed amount of each employee's salary is added to the employer's contribution of 2%. The state will additionally transfer 2% of taxable income in favor of employed and self-employed. As for self-employed, they will bring 4% of their salaries to the pension fund.