As stated in the explanatory card of the bill, the current structure, which consists of a supervisory board and an investment board, has failed to provide unified management and comprehensive supervision of the pension scheme. [...] Furthermore, in Georgia, proposed amendments to the funded pension system involve a shift in the appointment process for the Governance Board of the Pension Agency. [...] In the Netherlands, the board of the Algemene Pension Group (APG), one of the largest pension fund administrators, consists of members appointed by the Supervisory Board, which itself is composed of representatives from employers, employees, and independent experts. [...] Therefore, while the intention behind the proposed amendment may be to address inflationary pressures and enhance investment diversification, it is crucial to consider the potential consequences of increased investment freedom within the context of the pension fund's long- term sustainability and the well-being of its participants. [...] In addition to the anti-democratic Law on Transparency of Foreign Influence (known as the Agents Law), several laws and legal amendments such as alterations in the governance of the National Bank of Georgia, the so-called Law on Offshores, and the changed course of strategic partnerships by the intention of involving sanctioned Chinese companies in the major strategic port project create the conte.
Authors
- Pages
- 15
- Published in
- Georgia
