The Budget and Finance Committee heard the 2025 activity report of the LEPL Georgian Pension Fund.

The report was presented by the Acting General Director of the Pension Fund, Giorgi Chichinadze, who spoke about the Fund’s activities and measures implemented during the reporting period.

“2025 was a year of significant institutional transformation for the Georgian Pension Fund. In 2024, amendments were made to the Law on Funded Pensions. Consequently, from 1 May 2025, both the governance structure of the Pension Fund and the regulations governing its operations were changed. The Pension Agency was renamed and reorganized as the LEPL Georgian Pension Fund. The governing body of the Fund was designated as the Governing Board of the Georgian Pension Fund, while the executive body was defined as a team of executive directors, including the General Director, the Chief Investment Officer, the Chief Risk Officer, and the Head of Internal Audit. The Governing Board commenced its activities on 1 March 2025 within the scope of powers granted by law. Based on the legislative amendments, the Board also established and staffed the committees envisaged by the legislation”, - Giorgi Chichinadze stated.

According to him, by the end of 2025, the net value of the Pension Fund’s assets exceeded GEL 8.2 billion, representing an increase of GEL 2.2 billion compared to the previous year.

“The growth in assets was driven both by increased pension contributions from participants and by strong investment performance. During the reporting period, investment income reached a historic high of GEL 796 million, while total investment returns generated since the Fund’s establishment exceeded GEL 2.2 billion. The number of employers and employees participating in the system also increased. More than 125,000 new participants and over 25,000 employers joined the system, primarily as a result of the new declaration system. As a result, the total number of registered participants has now exceeded 1.7 million. In 2025, pension payments and pension asset withdrawals provided to 11,367 individuals amounted to GEL 62.8 million”, - the presenter noted.

He further stated that 2025 was also significant in terms of developing monitoring and enforcement mechanisms. Legislative amendments introduced automatic monitoring and sanctioning mechanisms for pension contribution obligations, substantially strengthening the system’s effectiveness and safeguarding participants’ interests.

Giorgi Chichinadze also discussed the Pension Fund’s operational and investment activities, monitoring processes, and other related issues.