Georgia’s divisive pension reform splits opinion

Georgia’s parliament finally adopted a new pension law on July 21, its third hearing. According to the country’s deputy minister of economy Ekaterine Mikabadze, whose ministry initiated the law, the primary goal of the pension reform is to improve the ratio of pension income to earned salary, and to ensure fiscal sustainability. “The introduction of pension reform could potentially be complementary to the effort to develop the Georgian capital market by supporting the accumulation of professionally managed savings,” Ms Mikabadze...