Pensions issue

During the recent parliamentary elections all the participating parties voiced their concern about pensions. The minimum pension for disabled people is the equivalent of 33 USD and pensions for retirees begin at 110 GEL. Pensions are inadequate, however as the minimum monthly cost of living in Georgia is 145 GEL, though in reality it could be 220 GEL. Increasing pension amounts will not be easy for the new government: there are more than 700, 000 pensioners in Georgia, around one sixth of the population. To increase pensions up to the minimum monthly cost of living will increase the budgetary expenditure. The incoming administration has spoken about establishing special funds but it needs time and stability. Unfortunately due to the neglectful management of the outgoing government nine years were wasted in not addressing this issue better.