of the pension reform depends on the resources management," Temur Basilia,
the ex-Vice Prime Minister, former Economic Adviser to the former president, says
in an exclusive interview with Commersant.
Basilia believes the country’s approach to the pension system is correct. According to him, it is important to place the pension charges correctly what the agency will be responsible for. He adds that the reform is very important for the economic development as well.
The financier hopes that after a certain period when the society when society is aware of all the benefits of the pension system, joining to it will become voluntary.
In Basilia’s words, work on the introduction of pension system in Georgia began many years ago, when he served as the president's economic advisor. However, as he claims, the country was not ready for such a reform.
"I worked on this issue, we developed some conception. Small groups were created from private pension funds but then the country was not ready for a large-scale pension reform. In fact, it should be started sooner or later and it can be only hailed it has been started, "Basilia says.